With reference to high-technology industries, which of the following statements is true about technical standards?
A) They emerge because there are economic benefits associated with them.
B) They cause compatibility problems between products and their complements.
C) They can create a lot of confusion in the minds of consumers.
D) They often result in higher production costs.
E) They increase the risks associated with supplying complementary products.

Question

Quizplus · Accepted Answer

Technical standards help to ensure that different products can work together seamlessly, which can provide economic benefits such as increased efficiency, reduced costs, and increased innovation. Standards can also improve interoperability and reduce barriers to entry, which can encourage competition and innovation. However, implementing standards can also be costly and time-consuming, and can sometimes create compatibility issues or confusion among consumers. Overall, technical standards can be an important driver of innovation and growth in high-technology industries.

With Reference to High-Technology Industries, Which of the Following Statements