Allowing an Inventor to Have the Exclusive Rights to Market

question 535

Multiple Choice

Allowing an inventor to have the exclusive rights to market her new invention will lead to (i)
A product that is priced higher than it would be without the exclusive rights.
(ii)
Desirable behavior in the sense that inventors are encouraged to invent.
(iii)
Higher profits for the inventor.

• A)(i) and (ii) only
• B)(ii) and (iii) only
• C)(i) and (iii) only
• D)(i), (ii), and (iii)

Recognize the impact of competitive differentiation and consumer orientation on business strategies.

Identify the effects of globalization on business operations, including offshoring and global workforce management.

Describe the role of technology and social media in modern business practices.

Understand the historical transformations in business practices, from the Industrial Revolution to present-day orientations toward consumer satisfaction and diversity.

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Definitions:

Applied Behavior Analysis

A scientific discipline concerned with applying techniques based on behavioral principles to change behavior of social significance.

Operant Conditioning

An instruction strategy by which the intensity of an action is adjusted via positive reinforcement or disciplinary measures.

Classical Conditioning

A cognitive learning strategy where the repeated combination of two stimuli results in a response that, at the beginning elicited by the second stimulus, is eventually elicited by the first stimulus alone.

Observational Learning

A learning process in which individuals learn by watching the behaviors of others and the consequences of those behaviors.