What are network effects? Provide an example
What will be an ideal response?
Network effects refer to the increased value of a product or service that results simply because there are more people using it. A large customer base can be significant because of network effects. The value of Facebook, for example, is low if you can only connect a few people. But the more people who use that social network, the more valuable it becomes to everyone.
Business
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Of the following, a company would be most likely to rely on ________ to lower its costs and focus its resources on core competencies
A) brand stretching B) price wars C) bundling D) brand valuation E) outsourcing
Business
When a person dies intestate, his property will be distributed to:
A) heirs. B) donors. C) testators. D) personal representatives.
Business