Question

What are some potential positive and negative outcomes that could result from private companies bidding for new space vehicles?

a) Increased competition and innovation, but potential cost overruns.
b) Lower costs and faster development, but lower safety standards.
c) Improved technology and international collaboration, but higher prices.
d) Better safety measures and shorter development timelines, but limited accessibility.

Answer 1

Private companies bidding for new space vehicles can lead to increased competition and innovation but also cost overruns and potentially lower safety standards. The balance between private benefits and broader social benefits can influence the extent of innovation and collaboration in this field. Therefore, the correct option is A

Step-by-step explanation:

When private companies participate in bidding for new space vehicles, several outcomes are possible. On the positive side, there could be increased competition and innovation due to competitive pressures, leading to advanced technology and possibly fostering international collaboration. However, the processes of copying innovations and the limited private benefits compared to the broader social benefits may deter investment in research and development. As a result, potential negative outcomes include cost overruns, lower safety standards due to a rush in development, higher prices due to the desire to recoup the investment, and limited accessibility if the benefits of new technologies are kept proprietary or priced highly.