Examlex

Solved

The First Fundamental Theorem of Welfare Economics States That

question 40

Multiple Choice

The first fundamental theorem of welfare economics states that


Definitions:

Conditional Estate

An ownership interest in which the holder has the same interest as that in a fee simple absolute except that this interest is subject to a condition.

Patent

Protection that grants the holder the exclusive right to produce, sell, and use the object of the patent for 20 years; can be obtained for a product, process, invention, machine, or a plant produced by asexual reproduction.

70 Years

A measure of time often associated with copyright duration, extending 70 years beyond the life of the creator.

Easement

An irrevocable right to use some part of another’s land for a specific purpose without taking anything from it.

Related Questions