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.

Question

Quizplus · Accepted Answer

As the size of a market expands, a standard signals the market's agreement on a common set of engineering features and design choices. Standards can emerge bottom-up through competition in the marketplace, or be imposed top-down by government or other standard-setting agencies.

In the Context of Industrial Growth, Which of the Following