It May Be Preferable for Government to Intervene to Impose

question 23

Multiple Choice

It may be preferable for government to intervene to impose a public standard rather than let a private,de facto standard be determined through competition because:

• A)Governments are superior to markets in selecting the best technology
• B)A private,de facto standard can take a long time to become established,thereby delaying the adoption of a new technology
• C)Competition is always wasteful
• D)De facto standards tend to be set by US companies

---

Definitions:

Disproportionate Resources

A situation where resources are unevenly distributed or allocated, often leading to imbalances in performance or outcomes.

Mind-Set Continuum

The range or spectrum of attitudes or beliefs individuals may hold, reflecting how fixed or growth-oriented they are in their thinking and approach.

Enterprising

Showing initiative, willingness to undertake new ventures, and the ability to think creatively and innovatively.

Generate And Exploit

A strategy that involves creating new ideas, products, or processes and making use of them to achieve competitive advantage or market success.