Network Effects Refer to the ________

question 57

Multiple Choice

Network effects refer to the ________.

• A)increased value of a product or service because there are more people using it
• B)the additional costs incurred by customers when they change suppliers
• C)the leveraging influence of customers over suppliers
• D)ability of suppliers to charge more owing to the lack of competition

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Definitions:

Foreign Labour Markets

Job markets in countries different from one's own, often considered by companies for outsourcing or by individuals for employment opportunities.

International Business

Commercial activities that involve the transactions of goods, services, resources, technology, or capital across national borders.

Profit Transactions

Financial operations that result in net income or gain for a business.

Goods and Services

Goods and services constitute the fundamental outputs of economic activity, with goods being tangible products and services being intangible activities or benefits provided to consumers.