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PATENT: The guaranteed ownership and control of an invention, innovation, or production technique by government for a period of time (currently 17 years). A patent gives the owner the exclusive rights to sell, market, license, or otherwise generate revenue from an invention, innovation, or production technique. Patents are designed to encourage inventions and other developments that promote technological advances. However, they are also an entry barrier and lead to market control.
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SUPPLY TO A FIRM The range of quantities of a factor that a firm is able to buy at a range of factor prices. Supply to a firm is a phrase that is most relevant to the study of factor markets, especially when contrasted with supply by a firm. Supply to a firm puts the firm on the buying side of the factor market. Supply by a firm puts the firm on the selling side of the factor market.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"When I look back on all these worries, I remember the story of the old man who said on his deathbed that he had had a lot of trouble in his life, most of which had never happened. " -- Winston Churchill, British statesman
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AAXICO
American Air Export and Import Company
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