The mark is imposed on goods or wrappers to show that the articles bearing this mark belong to a particular trader. What is this mark called ?
Correct answer: C. Trade Mark
- A. Insignia
- B. Patent mark
- C. Trade Mark
- D. Identification mark
Explanation
A trademark is a distinctive name, symbol, or mark placed on goods or packaging to identify the trader or producer. A patent protects an invention, whereas a trademark identifies its commercial source.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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