Question

Entrepreneurs are willing to take risks becausea. technology provides a way to sidestep the patent and copyright system.b. the patent and copyright system provides an exclusive right to sell the product for a period of time.c. the patent and copyright system guarantees a certain level of profit.d. technology always increases costs and prevents competitors from entering the market.e. the patent and copyright system guarantees that the risks taken will be rewarded.

Answer 1

Answer: Option (b) is correct.

Explanation:

Entrepreneurs are willing to take risks because they know that the patent and copyright provides them an opportunity or right to sell their product for a period of time.

This is due to the fact that entrepreneurs are protected by the patent and copyrights. Patent and copyright gives entrepreneurs an opportunity to earn profit by selling their product but these patent and copyrights are for a certain period of time. It protects entrepreneurs from the other competitors in the market who are producing similar products.