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A patent is an exclusive right given to an inventor for his or her invention. In other words, a patent is a monopoly right given to the inventor for the invention. A patent confers on the inventor the right to price and to sell the invention in any way he or she desires, in the United States, patents are granted by the Patent Office for 17 years. Although economists generally condemn monopoly as a form of market organization since monopoly imposes costs on the economy, patents present a more subtle case for monopoly theory. Specifically, can patent monopolies be justified In general, economists complain about the costs of monopoly because they believe that the same industry could be organized competitively. A patent monopoly grant for 17 years presents a different problem. That is, the purpose of the patent system is to encourage invention. The issue is not monopoly versus competition but, more fundamentally, invention versus no invention. Is the world better off with the invention, even though it is monopolized for 17 years In other words, what are the costs and benefits of a patent Consider the simple case of a new consumer product with a positive demand, such as a camera utilizing a new exposure process. The costs of the patent monopoly are simply the deadweight costs of monopoly measured by the lost consumers’ surplus from the 17-year patent monopoly. This cost must be assessed carefully in the context of an invention, however. What are the benefits of the patent system First, there is the increase in consumer well-being brought about immediately by a desirable invention. In 17 years, the patent monopoly ends, and a second source of benefits arises: The price of cameras will fall to a competitive level, and consumers will reap the benefits of the camera at a lower price. In sum, theory of monopoly helps us to assess the costs and benefits of the patent. One can quibble about patent monopolies, arguing, for example, that they are granted for too long a time. In the end, the patent system creates goods and services and technologies that did not previously exist. In this respect it is a valuable System for the economy. The patent system also underscores the importance of property rights to ideas as a source of economic growth and progress. What benefit can the patent system offer when the patent expires
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A patent is an exclusive right given to an inventor for his or her invention. In other words, a patent is a monopoly right given to the inventor for the invention. A patent confers on the inventor the right to price and to sell the invention in any way he or she desires, in the United States, patents are granted by the Patent Office for 17 years. Although economists generally condemn monopoly as a form of market organization since monopoly imposes costs on the economy, patents present a more subtle case for monopoly theory. Specifically, can patent monopolies be justified In general, economists complain about the costs of monopoly because they believe that the same industry could be organized competitively. A patent monopoly grant for 17 years presents a different problem. That is, the purpose of the patent system is to encourage invention. The issue is not monopoly versus competition but, more fundamentally, invention versus no invention. Is the world better off with the invention, even though it is monopolized for 17 years In other words, what are the costs and benefits of a patent Consider the simple case of a new consumer product with a positive demand, such as a camera utilizing a new exposure process. The costs of the patent monopoly are simply the deadweight costs of monopoly measured by the lost consumers’ surplus from the 17-year patent monopoly. This cost must be assessed carefully in the context of an invention, however. What are the benefits of the patent system First, there is the increase in consumer well-being brought about immediately by a desirable invention. In 17 years, the patent monopoly ends, and a second source of benefits arises: The price of cameras will fall to a competitive level, and consumers will reap the benefits of the camera at a lower price. In sum, theory of monopoly helps us to assess the costs and benefits of the patent. One can quibble about patent monopolies, arguing, for example, that they are granted for too long a time. In the end, the patent system creates goods and services and technologies that did not previously exist. In this respect it is a valuable System for the economy. The patent system also underscores the importance of property rights to ideas as a source of economic growth and progress. The first paragraph mainly______.
Directions: Write an essay of 160-200 words based on the following information:A. Title: Aged People Tend to Live AloneB. Word limit: 160-200 wordsC. Your composition should be based on the OUTLINE below and should end the first paragraph with the given sentence: Why do aged people tend to live alone Your composition should be written neatly on ANSWER SHEET 2.Outline:1) Present situation2) Possible reasons3) Your comment
Most of us have seen a dog staring at, sometimes snarling at, and approaching a reflection of itself. For most animals, seeing their own image in a mirror acts as a social stimulus. But does the dog recognize itself, or does the reflection simply signal a potential companion or threat This question is interesting for a number of masons. Apart from curiosity about the level of animals’ understanding, research on serf- recognition in animals has several benefits. It provides some insight into the evolutionary significance of this skill of serf-recognition and into the level and kinds of cognitive competence that the skill requires. Such research also indicates the kinds of learning experiences that determine the development of self-recognition. In addition, work with animals fosters the use of techniques that are not dependent on verbal responses and that may therefore be suitable for use with preverbal children. The evidence indicates that dogs and almost all other nonhumans do not recognize themselves. In a series of clever experiments, however, Gallup has shown that the chimpanzee does have this capacity. Gallup exposed chimpanzees in a small cage to a full-length mirror for ten consecutive days. It was observed that over this period of time the number of serf-directed responses increased. These behaviors included grooming parts of the body while watching the results, guiding fingers in the mirror, and picking at teeth with the aid of the mirror. Describing one chimp, Gallup said, "Marge used the mirror to play with and inspect the bottom of her feet; she also looked at herself upside down in the mirror while suspended by her feet from the top of the cage; she was also observed to stuff celery leaves up her nose using the mirror for purposes of visually guiding the stems into each nostril." Then the researchers devised a further test of serf-recognition. The chimps were anesthetized and marks were placed over their eyebrows and behind their ears, areas the chimps could not directly observe. The mirror was temporarily removed from the cage, and baseline data regarding their attempts in touch these areas were recorded. The data clearly suggest that chimps do recognize themselves, or are self-aware, for their attempts to touch the marks increased when they viewed themselves. Citing further evidence for this argument, Gallup noted that chimpanzees with no prior mirror experience did not direct behavior to the marks when they were first exposed to the mirror; that is, the other chimpanzees appeared to have remembered what they looked like and do have responded to the marks because they noticed changes in their appearance. The author’s purpose in the passage is______.
Science develops through objective analysis, instead of through personal belief. Knowledge gained in science accumulates as time goes by, building on work performed earlier. Some of this knowledge-such as our understanding of numbers-stretches back’ to the time of ancient civilizations, when scientific thought first began. Other scientific knowledge such as our understanding of genes that cause cancer or of quarks (the smallest known building block of matter) -dates back less than 50 years. However, in all fields of science, old or new, researchers use the same systematic approach, known as the scientific method, to add to what is known.41__________. For example, in 1676, the English physicist Robert Hooke discovered that elastic objects, such as metal springs, stretch in proportion to the force that acts on them. Despite all the advances that have been made in physics since 1676, this simple law Still holds true.42__________. Sometimes scientific predictions go much further by describing objects or events that are not yet known. An outstanding instance occurred in 1869, when the Russian chemist Dmitry Mendeleyev drew up a periodic table of the elements arranged to illustrate patterns of recurring chemical and physical properties.43__________. At the time, most geologists discounted Wegener’s ideas, because the Earth’s crust seemed to be fixed. But following the discovery of plate tectonics in the 1960s, in which scientists found that the Earth’s crust is actually made of moving plates, continental drift became an important part of geology.Through advances like these, scientific knowledge is constantly added to and refined. As a result, science gives us an ever more detailed insight into the way the world around us works.44__________. However, with the dawn of the Industrial Revolution in the 18th century, this rapidly changed. Today, science has a profound effect on the way we live, largely through technology--the use. of scientific knowledge for practical45__________. The refrigerator, for example, owes its existence to a discovery that liquids take in energy when they evaporate, a phenomenon known as latent heat.A. Scientists utilize existing knowledge in new scientific investigations to predict how things will behave. For example, a scientist who knows the exact dimensions of a lens can predict how the lens will focus a beam of light. In the same way, by knowing the exact makeup and properties of two chemicals, a researcher can predict what will happen when they combine.B. For a large part of recorded history, science had little bearing on people’s everyday lives. Scientific knowledge was gathered for it sown sake, and it had few practical applications.C. During scientific investigations, scientists put together and compare new discoveries and existing knowledge. In most cases, new discoveries extend what is currently accepted, providing further evidence that existing ideas are correct.D. Tile principle of latent heat was first exploited in a practical way in 1876, and the refrigerator has played a major role in maintaining public health ever since. Tile first automobile, dating from the 1880s, made use of many advances in physics and engineering, including reliable ways of generating high-voltage sparks, while the first computers emerged in the 1940s from simultaneous advances in electronics and mathematics.E. Some forms of technology have become so well established that it is easy to forget the great scientific achievements that they represent.F. In science, important advances can also be made when current ideas are shown to be wrong. A classic case of this occurred early in the 20th century, when the German geologist Alfred Wegener suggested that the continents were at one time connected, a theory known as continental drift.G. Other fields of science also play an important role in the things we use or consume every day. Research in food technology has created new ways of preserving and flavoring what we eat. 45
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