NECO Commerce 2023 Objective — Question 38
Question 38 of 50 from the National Examinations Council (NECO) Commerce 2023 Objective paper, with the correct answer and a full explanation.
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Brand names and trademarks are legally protected intellectual property mainly because they (a) increase production costs (b) give the owner the exclusive right to use them, preventing imitation by competitors (c) reduce the price of goods (d) are required for export only
- A. increase production costs
- B. give the owner the exclusive right to use them, preventing imitation by competitorsCorrect
- C. reduce the price of goods
- D. are required for export only
Explanation
Brand names and trademarks are intellectual property that give the owner the exclusive right to use them for specific goods or services, preventing other businesses from copying and selling as their own.
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