Homework Answers
Question 1
Lack of robust, transparent and effective institutional framework leads to the increased transaction costs.
On the other hand, robust, transparent, and effective institutional framework can lead to the increased transaction costs.
So,
Institutions that strengthens the certainty of economic transactions decreases transaction costs.
Thus, the given statement is False.
Question 2
As more and more firms will enter the cloud market, distinction between services offered will be reduced.
Overtime, services offered by each firm would be same.
This is referred to as commoditization.
So,
There are chances of commoditization of cloud offerings.
Hence, the correct answer is the option (1).
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