Asked by
Jasmine Ibarra
on Nov 17, 2024
Verified
Government intervention in the economy with the goal of promoting technology-producing industries is known as patent policy.
Patent Policy
Guidelines and laws governing the protection of inventions and innovations, ensuring inventors have exclusive rights to their creations for a predetermined period.
Government Intervention
The active involvement by a government in the economic or social affairs of a country, which can include regulations, subsidies, tariffs, and public services.
- Understand the significance of government action in ameliorating market imperfections that arise from externalities.
- Identify examples of government policies aimed at addressing externalities.
Verified Answer
AR
Learning Objectives
- Understand the significance of government action in ameliorating market imperfections that arise from externalities.
- Identify examples of government policies aimed at addressing externalities.
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