1 A trademark produces what two values? a) Economic and political b) Eco

1 A trademark produces what two values?

a) Economic and political

b) Economic and social

c) Economic and public

d) Social and private

2 in the appropriability of rents if the cost of replication is high and intellectual

property rights are _______ you have weak appropriability.

a) Tight

b) flexible

c) Loose

d) Redoubled

3. What are the keys to incentive-based approaches to meeting environmental goals?

a) Imposes a cost and leaves it to individual polluters to decide how best to respond

b) Imposes a fine and leaves it to government to decide the regulations

c) Imposes sanctions of a certain limit and lets the individual polluters decide how to

manage it within government guidelines

d) Imposes a cost and dictates the incentives for managing the situation

4 In the Coase Theorem social efficiency is a problem because of _________to bargaining which

are referred to as ____________costs.

a) Complexities; inherent

b) Impediments; transactions

c) Impediment; business

d) Complexities; transactions

5 What approach has become an effective means of achieving environmental goals
at the least cost to society?

a) Command-and-control

b) Incentives or markets

c) Common goods

d) International agreements

6 __________ is a set of rights to control a tangible or intangible thing.

a) Property

b) Common law

c) Contract

d) Civil law

7. Cap-and-trade systems are also called.

a) market systems

b) tradable permit systems

c) incentive systems

d) governmental systems
8 Changing ____________ can dramatically alter the
costs of replication of

intellectual creations as in the case of Napster.

a) People

b) Technology

c) Taste

d) Management

9 Most of the costs of environmental protection are borne by _______?

a) Private parties

b) Government

c) Business

d) All of the above

10 A _______ may be granted for an invention of any new and useful process

machine manufacture or composition of matter or any new and useful

improvement thereof.

a) License

b) Patent

c) Contract

d) Copyright