A standard which came to the market first, such as the QWERTY letter layout in typewriters, can become entrenched (this layout is still used for computer keyboards today).What is this phenomenon called?
A)network externalities
B)path dependency
C)sunk cost
D)comparative advantage

Question

Quizplus · Accepted Answer

This phenomenon is called path dependency, which refers to the tendency of a particular technology or standard to become established and difficult to change due to historical or cultural factors. Once this path is established, it can be difficult to alter it, even if a better alternative is introduced.

A Standard Which Came to the Market First, Such as the QWERTY