AmazonCom Created a Competitive Advantage and an Entirely New Industry

question 60

True/False

Amazon.com created a competitive advantage and an entirely new industry by making use of disruptive technology.

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Definitions:

Behavioral Economics

explores how psychological, cognitive, emotional, cultural, and social factors affect economic decisions, challenging traditional economic theories that assume rational behavior.

Recognition Heuristic

A cognitive shortcut that involves making a decision based on the recognition of familiar names or entities instead of considering detailed information.

Recognition Heuristic

A cognitive shortcut where individuals give greater importance to options that they recognize over those they do not.

Behavioral Economics

A field of economic research that examines the psychological and emotional factors affecting people's economic decisions and actions.