Which of the following features of e-commerce technology is related to the concept of network externalities?Group of answer choicesinteractivityinformation densityrichnessuniversal standards
Question
Which of the following features of e-commerce technology is related to the concept of network externalities?Group of answer choicesinteractivityinformation densityrichnessuniversal standards
Solution
The feature of e-commerce technology that is related to the concept of network externalities is "universal standards".
Network externalities refer to the effect that one user of a good or service has on the value of that product to other people. In the context of e-commerce, universal standards, such as internet protocols, enhance the value of the network to all participants because they make it easier for users to interact with each other, regardless of the specific technology or platform they are using.
So, the more people use these universal standards, the more valuable the entire network becomes, which is the essence of network externalities.
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