When the Government Introduces a Licensing Requirement for an Industry,it

question 89

True/False

When the government introduces a licensing requirement for an industry,it reduces the barriers to entry for the industry.

---

Definitions:

Expectancy Theory

A motivational theory that explains how individuals decide to behave in ways that they believe will lead them to desired outcomes based on expectations of future events.

Goal Orientation

A mindset that focuses on achieving specific outcomes or benchmarks as a means to promote success or accomplishment.

Proximal Goals

Short-term objectives set to be achieved in the near future that help to achieve a long-term goal.

Distal Goals

Long-term objectives or targets that are often more abstract and distant in the future, requiring a series of proximal (short-term) goals to achieve.