How does the application of intellectual property (IP) rights influence economic growth in everyday life?(1 point) Responses It ensures that inventors sell their products cheap. It ensures that inventors sell their products cheap. It ensures that inventors reduce their production capacity. It ensures that inventors reduce their production capacity. It ensures that inventors maximize their profits. It ensures that inventors maximize their profits. It ensures that innovators ideas, services, and/or products are not protected.
It ensures that innovators are able to protect their ideas, services, and/or products from being copied or stolen by others, allowing them to profit from their creations. This incentivizes innovation and creativity, leading to economic growth and development. Additionally, IP rights encourage investment in research and development, as companies can be assured that their intellectual property will be protected, thus spurring further economic growth.
