An r&d program by one firm cannot replicate a successful technology developed by another firm. this is an example of Path dependency.
What is the meaning of path dependency?
Path dependence is the propensity for institutions or technologies to stick with a particular course of development as a result of their structural characteristics or their core values.
What are some examples of path dependence?
- Path dependency can also be the result of an unwillingness or inability to commit to change due to the costs involved.
- A town centered on a factory is a prime illustration of path dependence.
- For a variety of reasons, it is ideal for a factory to be situated away from residential areas.
What is path dependent risk?
Path-dependent risks occur when choosing the incorrect course would result in significant time, financial, or both losses.
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Could you translate the problem in english?
The conditions which characterizes Jacob's behavior is most consistent with a brain disorder called Hyperactivity.
- The disorder associated with Jacob is fully called Attention deficit hyperactivity disorder. This is a chronic disorder which affects the brain.
- Individuals with these condition have difficulty following instructions such as being able to stay calm or sit still. They are also very forgetful.
Hence, Jacob is suffering from <em>Attention deficit hyperactivity disorder</em>
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Answer:
Smith argued that by giving everyone freedom to produce and exchange goods as they pleased, and opening the markets up to domestic and foreign competition, people's self-interest would promote greater purpose than government. Explanation:
