Patents Represent

question 70

Multiple Choice

Patents represent

• A)the protection given to new products by the law.
• B)how R&D spending translates into new ideas.
• C)the extent to which firms benefit from the results of their own R&D spending.
• D)the rate of technological progress.

---

Definitions:

Government Subsidy

A government subsidy is financial assistance provided by the government to individuals, organizations, or industries to encourage or protect certain activities or products.

Market Price

The existing market rate for acquiring or selling a service or asset in the open market.

Subsidy

Financial assistance provided by the government or a public body to support businesses, reduce prices, or encourage a particular economic activity.