Ch.4 Pp 2
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Ch.4 Pp 2

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Ch.4 Pp 2 Ch.4 Pp 2 Presentation Transcript

  • Ch. 4 Social Responsibility pp. 2
    • A patent gives the inventor the sole right to make, use, or sell the item for 17 years
    • For new products, this keeps other businesses from selling your product or another product very, very similar
  • Copyright
    • Copyright protects the creative work of authors, composers, and artists
    • Copyright protection lasts for the life of the person receiving the copyright
    • It also extends for 50 years past the persons death
  • Trademark
    • A trademark is a word, letter, or symbol linked with a specific company or product
    • Examples :
    • Apple for Apple Inc.
    • Red target for Target
    • “ M” for Mcdonalds
  • Monopoly
    • A monopoly exists when a business has control of the market for a product or service
    • A public utility monopoly may benefit consumers by making sure that they receive a needed service at a fair price
    • This means that the government doesn’t decide on the price
  • Tax Rates and Personal Income
    • Tax rates are the amount of tax that a individual has to pay on something when buying products or stock
    • An example is the tax on gas
    • Personal Income is the amount of money a individual takes in
  • Property Taxes
    • Property Taxes are taxes that people pay for their houses or things that they own
  • Sales Taxes
    • Sales taxes are the taxes put on an item by a business and it’s the tax you have to pay when buying a product from a store