Network Externalities Refer to the Situation Where the Usefulness of a Product

question 241

True/False

Network externalities refer to the situation where the usefulness of a product increases with the number of consumers who use it.

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Definitions:

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society.

Lilian Katz

An educational theorist known for her work in early childhood education, particularly regarding developmentally appropriate practices.

Client

A client is an individual or organization that engages the professional services or advice of another person or company.

Family

A social unit consisting of parents and their children, extended relatives, or individuals related by ancestry, adoption, marriage, or partnership.