When the Social Networking Site Facebook Started, Its Primary Members

question 5

Essay

When the social networking site Facebook started, its primary members were in the young adult market of 18 to 24 year olds.Now the 35 and over age group has the largest membership.What kind of value does Facebook offer to different segments?

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Definitions:

Production

The process of creating goods and services through the combination of labor, materials, and technology.

Quantity

The amount or number of a material or immaterial good or service.

Average Fixed Cost

The fixed costs of production (expenses that do not change with the level of output) divided by the quantity of output produced.

Output

The total quantity of goods and services produced by an economy or a firm.