De Facto Standards Are Not Actually Standards at All

question 32

True/False

De facto standards are not actually standards at all.

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Definitions:

Multinational Corporations

Large companies that operate in several countries, often with significant production or service facilities outside their country of origin.

Competitive Advantage

An attribute that allows an organization to outperform its competitors, such as cost structure, product quality, or market positioning.

Oil Imports

The purchasing of crude oil and petroleum products from foreign countries to meet domestic consumption and energy requirements.

Trade Deficit

A condition in which a nation buys more from foreign countries than it sells to them, leading to a deficit in the trade balance.