Allowing Firms to Receive Patents on New Inventions

question 121

Multiple Choice

Allowing firms to receive patents on new inventions

• A) increases the price consumers pay for patented products.
• B) gives firms a greater incentive to conduct research and development to invent new products.
• C) results in much lower prices than would be present if other firms were allowed to compete.
• D) does both a and b, but not c.

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Definitions:

Vision

An aspirational description of what an organization or individual wishes to achieve in the long-term, functioning as a guide for setting goals and aspirations.

Self-Awareness

The conscious knowledge of one's own character, feelings, motives, and desires.

Personal Vision Statement

A self-guided declaration of an individual's goals, values, and desired direction in life.

Emotional Intelligence

The ability to recognize, understand, and manage one's own emotions and the emotions of others.