An Instant-Messaging Standard Is an Example of a One-Sided Market

question 56

True/False

An instant-messaging standard is an example of a one-sided market.

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Definitions:

Factors Of Production

The resources used in the process of production, including land, labor, capital, and entrepreneurship.

Production Technology

The methods, equipment, and processes used to produce goods and services, encompassing both physical machinery and software systems.

Efficient Outcomes

Results or end-states that achieve the maximum benefit or utility with the minimal waste of resources.

Economy

The system of production, distribution, and consumption of goods and services in a particular geographic area.