The Government Developed the Patent System So That Private Inventors

question 99

True/False

The government developed the patent system so that private inventors could make a reasonable profit from otherwise rival goods.

---

Definitions:

Capacity

The maximum output that a company can produce under normal conditions over a certain period.

Predetermined Overhead Rate

A rate calculated at the beginning of a period, used to allocate overhead costs to products based on a particular activity base.

Machine-Hours

A metric assessing the amount of produced goods or operations based on machines' operation duration.

Automated Lathe

A computer-controlled machine used for shaping materials, like metal or wood, by removing excess material.