The WTO Has Made Progress on Trade-Related Intellectual Property Rights

question 39

Multiple Choice

The WTO has made progress on trade-related intellectual property rights (TRIPS) . An example of this progress is:

• A) an agreement that property rights should not take precedence over public health.
• B) an agreement that copyrights are inviolate.
• C) a shared recognition that private property is a basic human right.
• D) an agreement that governments should hold all pharmaceutical trade secrets.

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Definitions:

Market

A place or system where buyers and sellers interact to exchange goods, services, or information.

Consumer Surplus

Consumer Surplus is the difference between the highest price a consumer is willing to pay for a good or service and the actual price they pay.

Tax

A mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Reduction

The act of making something smaller or less in amount, degree, or size.