The Requirements for a Patent Include All EXCEPT

question 20

Multiple Choice

The requirements for a patent include all EXCEPT:

• A) the invention must be novel.
• B) the invention must be nonobvious.
• C) the invention must be commercially valuable.
• D) the invention must be useful.

---

Definitions:

Absolute Value

A numerical value regardless of its sign, often represented as the distance of a number from zero on the numerical scale.

Price Inelastic

Describes a situation where the demand for a product does not significantly change with a price increase or decrease.

Total Revenue

The total amount of money a firm receives by selling goods or services, calculated as the unit price times the quantity sold.

Same Direction

Refers to variables that move or change in unison, indicating a positive correlation where if one increases, the other also increases, and vice versa.