Which of the Following Is the Best Example of an Attempt

question 58

Multiple Choice

Which of the following is the best example of an attempt to create network effects?

• A)A fashion apparel outlet introduces a loyalty program for its customers.
• B)A retailer provides discounts on bulk purchases.
• C)A kitchenware manufacturer introduces a differentiated range of products.
• D)A telecom service provider introduces a family plan that provides free calls within the family.

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Definitions:

Supply and Demand

Supply and demand is a fundamental economic model that explains the interaction between the sellers of a resource and the buyers for that resource, determining its price and quantity in a market.

Allocation of Resources

The process of assigning available resources, or factors of production, to specific uses chosen among many possible and competing alternatives.

Productivity

The assessment of how effectively a person, machine, factory, or system can transform inputs into valuable outputs.

Labor Input

Refers to the total hours worked or the number of employees engaged in production in the economy.