Why Are Industry Standards So Important in High-Tech Markets

question 25

Multiple Choice

Why are industry standards so important in high-tech markets?

• A)They restrict customer options,enhancing the odds that a firm will gain sales.
• B)Standards reduce customer fear,uncertainty,and doubt,and thus,can help to grow the market,which is particularly important for products with network externalities.
• C)The availability of complementary products is large determined by the number of competitors in an industry.
• D)Because intellectual property rights are difficult to enforce.
• E)All of the above.

---

Definitions:

Prospective Memory

The characteristic of memory that permits the retrieval of planned actions or future intentions when the time comes.

Antibiotics

Medications used to treat bacterial infections by killing or inhibiting the growth of bacteria, critical in combating bacterial diseases.

Ear Infection

An infection located in the ear, typically affecting the middle ear, characterized by inflammation and often causing pain and temporary hearing impairment.

Retrospective Memory

The ability to remember events, information, or experiences from the past.