Explain in Detail Each of the Following Terms,giving Examples of Each

question 95

Essay

Explain in detail each of the following terms,giving examples of each: patent,trademark,and copyright.Why are these issues important in international business?

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Definitions:

Price Elastic Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with a higher elasticity indicating a greater response.

Dental Floss

A thin thread used to remove food and dental plaque from between teeth in areas a toothbrush is unable to reach.

Price Elasticity

Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Quantity Demanded

The full quantity of a good or service that consumers are inclined and financially capable of purchasing at a designated price.