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:

Alternative Arguments

Differing or opposing viewpoints presented in a discussion or debate to consider various perspectives.

Multiple Intelligences

A theory proposing that individuals possess a variety of distinct types of intelligence, each relating to a specific domain of human capability.

Mental Effort

The amount of cognitive resources required to accomplish a task, ranging from low to high depending on the complexity and demands of the task.

Spatial Intelligence

The ability to visualize with the mind’s eye, relating to the capacity to think about objects in three dimensions.