John Jones Applied for a Patent for His New Invention

question 37

Multiple Choice

John Jones applied for a patent for his new invention in May 1992 and the patent was granted in 1994.The patent will expire in

• A)May 2007.
• B)May 2015.
• C)May 2010.
• D)50 years after John's death.
• E)May 2012.

---

Definitions:

Price Supports

Government interventions to maintain the market price of a commodity or product at a certain minimum level to protect producers.

Environmental Pollution

The contamination of the natural environment by harmful substances or energies.

Marginal Land

Land that yields minimal profit from agricultural or another use, and its cultivation is often not considered worth the effort under normal circumstances.

Import Quotas

Limits set by governments on the quantity of a specific good that can be imported into a country within a given timeframe.