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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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