Patents I.encourage the Invention of New Products and Production Methods

question 177

Multiple Choice

Patents
i.encourage the invention of new products and production methods.
ii.generally discourage innovation.
iii.are exclusive rights granted to the inventor of a product or service.

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

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Definitions:

Real GDP

The measure of a country's gross domestic product adjusted for inflation, reflecting the value of all goods and services produced at constant prices.

Equity Finance

A method of raising capital through the sale of shares in a company, representing ownership interests in the corporation.

Investment

The allocation of resources, typically money, into ventures, stocks, or assets with the expectation of generating a profit.

Types of Saving

Various forms in which individuals or entities can save their money, such as bank deposits, investments, or pension funds.