The Primary Purpose of Patents and Copyrights Is to

question 163

Multiple Choice

The primary purpose of patents and copyrights is to

• A)provide owners with large profit forever.
• B)protect firms from being taken advantage of by competing firms.
• C)protect domestic firms from foreign competition.
• D)encourage the expenditure of funds on research and development to create new products.

---

Definitions:

Saving and Investment

Refers to the portion of income not spent on consumption but utilized for acquiring assets or depositing in financial instruments for future returns.

Biological and Chemical Weapons

Weapons that utilize toxic materials or infectious agents to harm or kill humans, animals, or plants.

Will to Develop

The determination and commitment shown by individuals or societies to improve economic conditions, infrastructure, and standards of living through innovation and investment.

Economic Growth

An increase in a country’s ability to produce goods and services, reflected in an increase in real GDP over time.