What Happens to the Price and Quantity Sold of a Drug

question 132

Multiple Choice

What happens to the price and quantity sold of a drug when its patent runs out?

• A) (i) only
• B) (i) and (ii) only
• C) (ii) and (iii) only
• D) (i), (ii), and (iii)

---

Definitions:

Industrialized Nations

Countries that have undergone industrialization, characterized by significant economic growth through the development of manufacturing and services industries.

Modernization Theory

A theory suggesting that economic development leads to predictable cultural and social changes towards a modern state similar to Western societies.

Poor Countries

Nations characterized by low levels of income, economic activity, and development, often facing challenges such as inadequate healthcare and education.

Modernization Theory

A perspective that views societal development as a progression from traditional to modern states through industrialization and democratization.