Market failure activities
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Rescooped by Davina Urbina from Peer2Politics
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End of Drug Monopolies and Mega-profits?

End of Drug Monopolies and Mega-profits? | Market failure activities | Scoop.it

To patent an invention you have to convince the patent office that it is both novel and useful and that it is not obvious. If you succeed, you will be given exclusive rights for a limited period, normally twenty years. During that time, no one can copy it without your permission, and this allows you to exploit your invention without having to keep it secret. In return for this protection, you have to make public a full description of your invention and how it is used. After the patent expires, it is freely available to anyone.

 


Via jean lievens
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Rescooped by Davina Urbina from Year 1 Micro
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Negative Externalities: Hong Kong chokes on own success

Really interesting short clip from Al Jazeera news. How could the pollution be built into the market mechanism? One idea is advising residents to grow longer nasal hair! 


Via Matt Smith
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Rescooped by Davina Urbina from Microeconomics IA articles
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Over-Fishing (Market Failure)

What are the main causes and consequences of the market failure in fishing? The main cause of the market failure in fishing is the over-consumption and demand for all varieties of fish and seafood....

Via DCS Shanghai
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