Which one of the following helps preserve incentives to develop new technologies?
A) patents
B) tariffs
C) quantity restrictions on imports
D) income taxes

Question

Quizplus · Accepted Answer

Patents provide legal protection to inventors and companies for new technologies they develop, which incentivizes research and development. It allows them to have a monopoly on their product or invention for a set period, which gives them a chance to recoup their investment in R&D and make a profit. Without such protection, there would be little incentive for companies to invest in new technologies as there would be a higher risk that competitors would copy or steal their inventions.

Which One of the Following Helps Preserve Incentives to Develop