A Barrier to Entry That Grants Exclusive Use of an Invented

question 257

Multiple Choice

A barrier to entry that grants exclusive use of an invented product or process to the inventor is called

• A) a government franchise.
• B) a patent.
• C) economies of scale.
• D) the ownership of a scarce resource.

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Definitions:

Tabasco Sauce

A brand of hot sauce made from tabasco peppers, vinegar, and salt, known for its spicy flavor.

Grocery Store

A retail store that specializes in selling food and other household goods.

Prototype

A typical or initial model of something from which other forms are copied or developed.

Concept

A general idea or understanding that represents a class or category of objects, events, or phenomena.