Chat with AIExam 7: The Competitive Environment
What is the 'Dunbar number' and why might it limit the growth of Facebook?
(32) 
VerifiedThe Dunbar number is 150. Dunbar is an anthropologist who argues that the human mind can only keep track of around 150 social contacts. Therefore, on Facebook, it is likely that each account holder will only bother to maintain up to 150 friends because any more is too much of a cognitive overhead. This could put a limit on the number of new friends that get invited to join Facebook.
In a railway system, if new trains are introduced to the system and they run on the same tracks as before, this is an example of which kind of infrastructure change
(48) VerifiedA
Why is co-evolution a good thing from the point of view of the digital economy?
(34) VerifiedCo-evolution describes a situation where companies work with value-chain partners in a collaborative way rather than in a competitive way. This avoids expensive races against each other. Instead companies work together and overall they get more business. Take a railway example - if different parts of the raily way system in the UK were to use different guage tracks, the overall installed base is likely to be lower because customers have complicated journeys with many changes. If the railway company grows through co-evolution (i.e. using the same tracks) the installed base is likely to be higher because customers will have a seamless journey (in theory anyway).
A fundamental law of economics is that value comes from scarcity, whereas in the digital economy, value comes from
(25) Which of the following industries is an example of a 'pure network'?
(28) In consumer markets the 'Autarky' value can be defined as the
(31) A peer-to-peer network is one where the number of suppliers would never equal the number of users.
(37) What is the key economic difference between the old economy and the digital economy?
(38) The technology standard that ends up being adopted in a particular industry is always the most superior technology.
(24)
-For competing in the digital economy, which of the following generic, strategic rules should be followed
(33) Networked industries where the flows between nodes are intangible are called
(39) If we apply the theory of 'the Dunbar number' to Facebook, how many friends should we limit ourselves to?
(31) If a network company attracts new customers, there is more incentive for further customers to join, which enables the firm to lower prices which attracts new customers (and so on) ......What is happening here?
(33) Compared to the 'old economy' competing in the 'new economy' is riskier
(24) In order for a British person to be able to withdraw Euros from in ATM machine in France, the ATM must operate to an agreed _______
(38) 
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