How does having a patent give a company a monopoly? A. A patent is a contract issued by a local authority that gives a single firm the right to sell its goods within an exclusive market. B. A patent gives firms the right to operate a business, especially where scarce resources are involved. C. A patent gives a company exclusive rights to sell a new good or service for a period of time. D. A patent allows the companies in an industry to restrict the number of firms in a

Being an expert problem solver is something you're either born with or not. true or false

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

The questions of economics address which of the following ? check all that apply