Many High-Technology Industries Are Characterized by Network Externalities

question 47

Essay

Many high-technology industries are characterized by network externalities. What are those externalities and how can they pay off?

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Definitions:

National Statistical Agency

A national statistical agency is an official government organization responsible for the collection, analysis, and publication of statistical information about a country's economy, population, and society.

Psychological Concepts

Fundamental ideas or theories that form the basis of the study of psychology, encompassing human behavior, emotion, cognition, and development.

Mental Classification

The cognitive process of organizing objects, ideas, or information into categories or groups based on shared characteristics or relations.

High-Average

Pertaining to performance or ability that is above the median but not reaching the highest levels.