Question

A process that protects the public by legally monitoring entrée to public practice, establishing minimum standards to protect the public in a particular jurisdiction, and monitoring minimal standards of practice via a practice act and ongoing disciplinary process would best be called which of the following?

a. Certification

b. Competency assessment

c. Accreditation

d. Licensure

Answer 1

The process outlined is best categorized as licensure, a legal requirement for practicing in specific professions to protect public welfare. The various scenarios listed are classified according to whether they are government-enforced barriers to entry or not. So, the correct answer is option d.

Step-by-step explanation:

The process described that protects the public by legally monitoring entry to public practice, establishing minimum standards, and monitoring ongoing practice through a practice act and disciplinary process is best-called licensure.

Government-Enforced Barriers to Entry

Here are the classifications for the given scenarios:

1. A city passing a law on how many licenses it will issue for taxicabs is a government-enforced barrier to entry.
2. A city passes a law that all taxicab drivers must pass a driving safety test and have insurance is also a government-enforced barrier to entry.
3. A well-known trademark is a barrier to entry that is not government-enforced, as it is created by brand recognition and intellectual property laws rather than direct government regulation.
4. Owning a spring that offers very pure water is also a barrier to entry that is not government-enforced, as it is based on natural resource ownership.
5. An industry where economies of scale are very large compared to the size of demand in the market presents a barrier to entry that is not government-enforced, as it results from economic factors.