In a Class of 10 Students,two of the Students Owned

question 59

Multiple Choice

In a class of 10 students,two of the students owned cell phones.Hence,only these two students could send text messages to each other in the class.A few days later,two more students got their own cell phones.This increased the habit of texting via phones.In a few months' time,all the students in the class got cell phones and thus,cell phones became more valuable in their class.Which of the following phenomena had occurred in the class?

• A)Network internality
• B)Network externality
• C)Supply side economies of scale
• D)Negative network effect

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Definitions:

Coffee

A beverage made by grinding and brewing the seeds of the coffee plant, commonly consumed for its stimulating effects.

Tea

An aromatic beverage commonly prepared by pouring hot or boiling water over cured or fresh leaves of the Camellia sinensis plant.

Wage Rate

The amount of compensation or payment received by an employee per unit of time or piece of work completed.

Pizza Makers

Individuals or machines specifically tasked with preparing and cooking pizzas.