Which of the Following Is FALSE

question 15

Multiple Choice

Which of the following is FALSE?

• A)At the end of the twentieth century,more and more traded goods and services incorporated specialized knowledge and unique ideas.
• B)Pharmaceuticals,computer hardware,telecommunications equipment,and other high technology products are valuable because of the innovation and research they incorporate.
• C)Software,movies,music,and other artistic expressions are valued for their creativity.
• D)Developing countries usually strongly advocate the protection of intellectual property rights.
• E)The protection given to creators and innovators varied greatly internationally until standardization began with the signing of the TRIPs agreement.

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Definitions:

Gross Profit

The difference between total revenue and the cost of goods sold, indicating the fundamental profitability of a company's core activities.

Rising Prices

A situation in which the general level of prices for goods and services in an economy increases over a period of time.

Market Cost

The current price at which goods, assets, or services can be bought or sold in the marketplace.

Perpetual Inventory System

An inventory accounting method where updates are made continuously to record sales and purchases in real time.