How Can the Internet of Things Act as a Disruptive

question 61

Essay

How can the Internet of Things act as a disruptive force to change the way in which businesses function?

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Definitions:

Bean Sprouts

The sprouted seeds of certain beans, commonly used in Asian cuisine and as a healthy ingredient in salads and sandwiches.

Firm's Production

The process or activities undertaken by a business to combine inputs like labor, capital, and materials to produce goods or services for sale.

Cournot Duopolists

Firms in a duopoly market structure, where two companies dominate, that decide on their output level assuming the other's output as given, under Cournot competition.

Demand Curve

Illustrates the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at each price level.