The Technological Lock-In Argument Suggests That

question 3

Multiple Choice

The technological lock-in argument suggests that:

• A) it is inefficient to try and adapt to new technology.
• B) more efficient technologies always immediately replace less efficient technologies.
• C) many of our institutions and technologies may be inefficient but are ingrained regardless.
• D) existing institutions and technologies are always the most efficient.

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Definitions:

Automatic Perfection

A condition in secured transactions where a security interest in collateral is considered perfected immediately upon attachment without the need for additional steps.

Financing Statement

A document filed to give public notice that a creditor has or may have an interest in the personal property of a debtor (a move often associated with secured transactions).

Advanced Value

The increase in worth or value of an asset or product due to improvements or enhancements made over time.

Performance Bond

A surety bond issued by an insurance company to guarantee satisfactory completion of a project by a contractor.