Existing Auction Sites, Such as EBay, Are Inherently More Valuable

question 61

Multiple Choice

Existing auction sites, such as eBay, are inherently more valuable to customers than new auction sites.This basic economic fact is called a(n) _____.

• A) deadlock effect
• B) lock-in effect
• C) smoke-and-mirrors effect
• D) anti-pattern effect

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Definitions:

Expert Power

The influence one possesses as a result of one's expertise, skills, or knowledge.

Substitutable

The concept that one item or service can be replaced by another with similar function or utility.

First-line Supervisors

Managers or supervisors who are at the lowest level of an organization's hierarchy and have direct oversight of non-managerial employees.

Lack of Discretion

The absence of autonomy or freedom in making decisions or acting in certain situations.