Cooperation and Compatibility Strategies for Competing in n/w markets. Openness strategy Open migration Discontinuity Who are allies and enemies? ‘Coopetition’ Captures the tension between cooperation and competition Establish Standards & create a single n/w of compatible users. How Standards Change the Game? 1. Expanded network externalities Enhance compatibility, interoperability Make network larger, increase value Share […]
Chapter 7: Networks and Positive Feedback
Network and Positive Feedback Introduction The industrial economy was populated by oligopoly industries in which a few large firms dominate markets. Examples of oligopolies include: Automobiles industry Steel industry Aluminum industry Various chemical markets The difference is that the old industrial economy was driven by economics of scale while the new […]
Unit 2: Data Preprocessing
2.1 Data Types and Attributes A data is a known fact that can be recorded and have implicit (imbedded) meaning. For example, the names, eye color, telephone numbers, and addresses of the students of a class. So, data is a collection of data objects and their attributes. A collection of attributes describe an object. Attribute […]
Chapter 4: Strategies for Pricing Information
Pricing Information Goods Encyclopedia Britannica sold 32 volume of hard cover book for $1,600 but Microsoft sold the similar information goods in CD at $49.95. then Britannica started providing online subscription at $ 2000 per year large libraries took the subscription but market share started eroding. In 1990, Britannica, started selling CD to home market […]
Chapter 10: Contemporary Issues
Very Short Question Answer of Contemporary Issues 1.Define the meaning of privatization. Privatization means the transfer of government assets and activities to the private sector. In other words, it is the involvement of private sector in the management of the public enterprise, or to sell, or lease it, or transfer government ownership to private ownership. […]
Chapter 9: Government Finance
Very Short Question Answer 1. Define the government budget. Government budget is defined as the estimate of income and expenditure by government for the coming fiscal year. 2. What are contains of the government budget? Contains of the budget are as follows: i. Actual income and expenditure of the previous fiscal year. ii. Revised income […]
Chapter 8: Monetary Theory
Very Short Question Answer 1. Define money supply. Money supply is defined as the total stock of money held by people and financial institutions including the central bank at a particular point of time. In other words, money supply is the total quantity of money circulation in an economy. 2. What do you mean by […]
Chapter 7: Business Cycles
Very Short Question Answer 1. Define the business cycle. Business cycle is defined as the regular upward and downward fluctuation in aggregate economic activities in the economy. It is also known as trade cycle and it is the special feature of capitalist economic system. 2. What are the various phases of trade cycle? The phases […]
Chapter 5: Income Determination Model
Very Short Question Answer 1. Who developed IS-LM model? IS-LM model was developed by J.R. Hicks in 1937 A.D. 2. Define IS curve. IS curve is defined as the locus various combinations of rate of interest and level of income which gives product market equilibrium. 3. Define LM curve. LM curve is the locus of […]