This week I want you to consider Rent-Seeking. If you aren't familiar with the term, there are a number of good references on the web which describe how individuals and businesses can gain wealth without creating wealth. My brief description gives you a feel for the contradictory nature of Rent-Seeking.I've attached two examples of how "Rent Seeking" is defined...

1. Investopedia
2. CorporateFinance Institute

This week's discussion has three parts:

• Part 1: Describe rent-seeking in your own words.If you are not familiar with the term Investopedia and Wikipediaand othershave solid definitions.
• Part 2: Identify how an individual entrepreneur can pursue rent-based gains. Use an actual or fictional example to illustrate.
• Part 3: Identify how a major corporation or industry can pursue rent-based gains. Use an actual or fictional example to illustrate.