Rent seeking is an economic concept that takes place when an entity seeks to gain wealth without a reciprocal contribution of productivity. In this video, you'll learn a simple way to understand this concept through an easy and brief explanation. Rent seeking revolves around government-funded social services and social service programs. A company may use a particular status to lobby the government for grants, subsidies, or tariff protection. Entities that own resources can lend them to earn interest rents, lease them to earn rental income, or use them in other income-producing ways.