What Are the Benefits and Drawbacks of Social Computing? as Someone

question 59

Essay

What are the benefits and drawbacks of social computing? As someone about to enter the marketplace, how can social computing impact your future job prospects? NOTE: this second question is not as subjective as it may appear; in other words, there are wrong answers to this question.

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Definitions:

Perfect Competition

A market structure where many firms sell identical products, no single firm can influence the market price, and all information is fully shared among buyers and sellers.

Number of Firms

The total count of businesses operating within a particular market or industry.

Perfect Price Discrimination

A pricing strategy where a seller charges each buyer the maximum price the buyer is willing to pay.

Consumer Surplus

The difference between what you pay for some good or service and what you would have been willing to pay.