Describe the Concept of Crowdsourcing

question 10

Essay

Describe the concept of crowdsourcing.

Grasp the concept of multi-directional communication flows in social media.

Appreciate the dynamics and significance of participation levels in online communities.

Understand different perspectives and cultural perceptions of time.

Recognize the importance of situational factors in consumer decision-making.

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Definitions:

Net Present Value

A method used in capital budgeting to analyze the profitability of an investment by calculating the difference between the present value of cash inflows and the present value of cash outflows over a period of time.

Present Value

The present value of a future amount of money or a series of cash flows, discounted by a certain rate of return.

Net Present Value Rule

A principle that states an investment should be made if the net present value of its cash flows, discounted at the hurdle rate, is positive.

Invest

The act of allocating resources, usually money, with the expectation of generating an income or profit.