Computer, telephone, search engines and wedding organizations, are examples of industries where the following strong phenomenon is at work:
A)High differentiation of products and services
B)Network externalities
C)Incremental innovations
D)Radical innovations

Question

Quizplus · Accepted Answer

Network externalities refer to situations where the value of a product or service increases as more people use it. This is strongly at work in industries like computer, telephone, search engines, and wedding organizations, as they all rely on a large network of users to provide value to their customers. The more people that use a particular search engine or wedding organization, for example, the more valuable it becomes for others to use it as well.

Computer, Telephone, Search Engines and Wedding Organizations, Are Examples of Industries