Ch.4 Pp 2

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Ch.4 Pp 2

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

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