Resources as Diverse as Formulas, Supplier and Customer Lists, Procedures

question 77

True/False

Resources as diverse as formulas, supplier and customer lists, procedures, and training programs could all be regarded as trade secrets.

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Definitions:

Artificially Scarce Good

A good that is made scarce through artificial means such as through intellectual property rights or monopoly pricing, despite its capacity for abundant supply.

External Cost

An uncompensated cost that an individual or firm imposes on others; also known as negative externality.

Marginal Costs

The additional financial burden incurred from producing another unit of a product or service.

External Cost

A cost incurred by a third party who did not agree to the action causing the cost.