Individual Ownership of Property Is a Key Element in

question 170

Multiple Choice

Individual ownership of property is a key element in

• A) the private enterprise system.
• B) a planned economy.
• C) socialism.
• D) the factors of production.
• E) communism.

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Definitions:

Invention

The act of creating or designing something that did not previously exist, usually a new device, method, or process.

Diffusion

The process by which an innovation or technology is adopted over time among members of a social system, community, or market.

Patent Trolls

Entities that purchase broad patents and use them to sue or threaten companies for patent infringement, often without producing any related products or services themselves.

Royalties

Payments made to the owners of intellectual property, such as patents or copyrights, for the use of their property.