Occurs When a Product Provides More Value to Each Customer

question 1

Multiple Choice

occurs when a product provides more value to each customer when more overall customers own or use the product.

• A)Network effect
• B)Economy
• C)Virtuous circle
• D)Synergy

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Definitions:

Deferred Imitation

The ability to repeat or mimic an action or behavior after a delay, demonstrating memory and cognitive development.

Cognitive Development

Cognitive Development is the process by which individuals acquire and evolve in their problem-solving abilities, memory, conceptual understanding, and information processing skills throughout their lifespan.

Sensorimotor Period

A stage in early child development (from birth to about 2 years old) where learning occurs through sensory experiences and manipulating objects.

Motor Skills

Abilities required to execute physical actions, which include both fine motor skills (small movements, like holding a pencil) and gross motor skills (larger movements, like walking).