A Platform Business Such as Airbnb Leverages Data Analytics to Differentiate

question 57

True/False

A platform business such as Airbnb leverages data analytics to differentiate its offer from that of competitors such as VRBO.

Understand the concept of Pareto efficiency in resource allocation and trade.

Identify the conditions under which producing more or less of a good benefits society.

Grasp the significance of voluntary exchange and its impact on societal welfare.

Comprehend the principles of perfect competition and its implications for efficiency in production and resource allocation.

---

Definitions:

Time-Series Graph

A time-series graph is a visual representation of data points over a specific period of time, showing trends, patterns, or changes in the data.

Changing The Scale

involves adjusting the production capacity or operational size of a business to meet different levels of demand.

Axes

The reference lines on a graph or chart that intersect at a right angle, typically displaying variables.

Pie Chart

A circular graph divided into slices to illustrate numerical proportion.