Question

How does the application of intellectual property (IP) rights influence economic growth in everyday life?(1 point)

Responses

It ensures that inventors maximize their profits.

It ensures that inventors sell their products cheap.

It ensures that inventors reduce their production capacity.

It ensures that innovators ideas, services, and/or products are not protected.

Answer 1

[AI-generated answer — Bot GPT 3.5]

It ensures that innovators have the incentive to invest time and resources into creating new ideas, services, and products. By protecting their intellectual property rights, innovators are more likely to bring their innovations to market, which can spur economic growth through job creation, increased competitiveness, and overall productivity gains.