What Is the Bandwagon Effect

question 10

Multiple Choice

What is the bandwagon effect?

• A) a positive network externality where a consumer's demand for a product increases because no one else has it
• B) a negative network externality where a consumer's demand for a product decreases because too many people own it
• C) a negative network externality where a consumer's demand for a product decreases because of the "snob effect"
• D) a positive network externality where a consumer's demand for a product increases because others own it

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Definitions:

Employment Stability

The assurance of consistent work and income for employees, contributing to job satisfaction and loyalty.

Follow Demand

Adapting production and inventory levels to meet current demand trends to minimize surplus and shortages.

Keep Demand

Strategies or practices employed to maintain or increase the desire for products or services among consumers or clients.

Human Resource Strategy

An organizational plan focusing on the management of human capital to align with the objectives and needs of the business.