In the Context of Industrial Growth, Which of the Following

question 89

Multiple Choice

In the context of industrial growth, which of the following statements is true of standards?

• A) Standards emerge exclusively from bottom-up through competition in the marketplace.
• B) As the size of a market expands, a standard signals the market's agreement on a common set of engineering features and design choices.
• C) Standards are exclusively imposed top-down by government or other standard-setting agencies such as the Institute of Electrical and Electronics Engineers.
• D) After a standard is established in an industry, the basis of competition tends to move away from process innovations toward product innovations.

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Definitions:

Indirect Expenses

Expenses that are not directly attributable to a specific cost object, such as goods or services, and typically include administrative and marketing expenses.

Arbitrary Methods

Accounting practices based on judgment or preference rather than strict rules or calculations.

Subjective

Based on or influenced by personal feelings, tastes, or opinions, rather than external facts.

Allocate

The process of distributing resources or tasks among projects or departments based on necessity or a strategic plan.