How do network externalities increase the winner-take-all nature of a market?
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How do network externalities increase the winner-take-all nature of a market?
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Network Effects Network effects also known as network externalities occur when a product or service becomes more valuable as more people use it This is because the utility of the product or service is ...View the full answer
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Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
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