Javabucks in China Show This short video clip deals with the legal issues of a hypothetical foreign-owned coffee shop opening in China and facing trademark violation issues from a Chinese competitor. In a legal sense, the term property refers to a resource over which an individual or business holds a legal title, that is, a resource that it owns. Intellectual property refers to property that is the product of intellectual activity. Patents, copyrights, and trademarks establish ownership rights over intellectual property. Recommended textbook solutionsAmerican Government1st EditionGlen Krutz 412 solutions Politics in States and Communities15th EditionSusan A. MacManus, Thomas R. Dye 177 solutions
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In what type of economy are all businesses state owned?Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society.
What is pure command economy?In a pure command economy, there is no private sector, as the central government owns or controls all business. In a command economy, government officials set national economic priorities, including how and when to generate economic growth, how to allocate resources, and how to distribute the output.
In what kind of economy is production determined by the interaction of supply and demand and signaled to producers through the price system?Market economies work using the forces of supply and demand to determine the appropriate prices and quantities for most goods and services in the economy.
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