Patent protection is important in affecting technological progress because it makes research and development:
A) more easily available.
B) diffuse more quickly.
C) more fertile.
D) environmentally responsible.
E) more appropriable.

Question

Quizplus · Accepted Answer

Patent protection makes research and development more appropriable, meaning that inventors and companies have the exclusive right to use and profit from their invention for a limited period of time. This incentivizes R&D investment as companies are able to recoup their costs and earn profits, which further promotes technological progress.

Patent Protection Is Important in Affecting Technological Progress Because It