Simple English definitions for legal terms
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Definition: Rent-seeking is an economic behavior where individuals or companies try to overproduce goods to earn more profit than the cost of production. This term is commonly used in the field of law and economics.
Examples:
These examples illustrate rent-seeking behavior because the individuals or companies are trying to earn more profit than what is fair or reasonable. They are taking advantage of a situation to maximize their own gain, even if it means harming others or the environment.