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What Are the Three Basic Criteria That Your Device or Invention

question 26

Essay

What are the three basic criteria that your device or invention must meet in order to be patentable?


Definitions:

Economy Produces

Refers to the total output of goods and services generated by an economy within a specific period.

Real Balance Effect

The influence a change in household purchasing power has on the quantity of real GDP that consumers are willing to buy.

Depression

A severe and prolonged downturn in economic activity, characterized by significant declines in GDP, high unemployment, and deflation.

Aggregate Demand

The total demand for goods and services in an economy at a given overall price level and in a given time period.

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