Economists Have Noted How the Value of a Product or Service

question 14

Multiple Choice

Economists have noted how the value of a product or service can increase as more consumers adopt the product; in other words,as the network increases.This is referred to as:

• A)economies of scale
• B)economies of scope
• C)positive network effect
• D)increasing returns to scale

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Definitions:

BIOS

Basic Input/Output System, a firmware interface that initializes and tests hardware during the startup process, prior to the operating system loading.

Boot Process

The sequence of events that occurs within a computer system from power-on until the operating system is fully loaded and the user can interact with the system.

Root Directory

The top level of the filing structure in a computer system. In Windows computers, the root directory of the hard drive is represented as C:\.

User Interface

The means by which a user interacts with a computer, software, or application, including visual elements like buttons and menus.