Facebook Is by Far the Largest Social-Networking Website in the World.Explain

question 1

Essay

Facebook is by far the largest social-networking website in the world.Explain how network externalities help Facebook maintain its position as market leader.

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Definitions:

Martin Luther

A seminal figure in the Protestant Reformation, known for his criticisms of the Roman Catholic Church and the posting of his 95 Theses in 1517.

Act of Supremacy

The 1534 legislation passed by the English Parliament that recognized Henry VIII as the Supreme Head of the Church of England, marking the start of the English Reformation.

1534

A year notable for events like the enactment of the Act of Supremacy, which established King Henry VIII as the head of the Church of England.

Church of England

The primary state church of England, established in the 16th century by King Henry VIII's separation from the Roman Catholic Church.