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Question 1 a briefly explain the purpose of patents. b.explain how increased research and development (R&D) can increase an economy's Gross Domestic Product (GDP). Table

Question 1

  • a briefly explain the purpose of patents.
  • b.explain how increased research and development (R&D) can increase an economy's Gross Domestic Product (GDP).

Table 1 shows patent applications published per 100,000 residents in selected UK cities and towns, 2018:

1 Cambridge 148.1
2 Coventry 95.5
3 Oxford 64.5
4 Derby 61.0
5 Aldershot 39.0
6 Aberdeen 34.1
7 Edinburgh 31.6
8 Gloucester 24.0
9 Bristol 20.1
10 Birkenhead 19.9
54 Liverpool 5.4
55 Sunderland 4.9
56 Glasgow 4.4
57 Southend 4.3
58 Luton 4.3
59 Doncaster 4.1
60 Ipswich 4.1
61 Barnsley 3.6
62 Wakefield 2.9
63 Wigan 2.6

Source: Enenkel, Quinio and Swinney (2020, p. 29)

  • c.Without making any precise calculations, describe two highlights of the data in Table 1.

  • d.Use the data in Table 1 and Table 2 to calculate the number of published patent applications in each of the following cities/towns - Cambridge, Bristol and Barnsley - in 2018 to the nearest whole number.
  • e.Briefly explain how a high number of patent applications can increase success for firms.

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