Network Externalities Are a Special Kind of Externality in Which

question 1

True/False

Network externalities are a special kind of externality in which people care about the number of other people who consume the good.

---

Definitions:

Design-It-In Approach

A proactive strategy in product development focusing on incorporating essential features, performance measures, and compliance aspects from the beginning, to prevent problems rather than fixing them later.

Continuous Improvement

An ongoing effort to improve products, services, or processes by making small, incremental improvements over time.

Techniques For Quality Measurement

Methods used to assess the quality of products, services, or processes, often involving quantitative and qualitative metrics.

Functional Approach

The functional approach is a method of organizational structure where a company is divided into departments or functions, each handling specific tasks or operations like marketing, finance, or manufacturing.