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:

Community

Assemblage of species interacting with one another within the same environment.

Immediate Collapse

A rapid fall or failure in structure, function, or health, occurring suddenly and often without warning, in various contexts such as medical or structural engineering.

Conserve Biodiversity

The practice of preserving and protecting various forms of life on Earth, including different plants, animals, and microorganisms.

Giant Pandas

A species of bears native to central China, known for their distinctive black and white coloring and reliance on bamboo as their primary food source.