Network Effects

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to refine our understanding of the concepts studied in this module by engaging in discussions and learning from different points of view. For “Discussion Forum 1″, answer the following question:

” Are one-sided and two-sided markets equally beneficial for consumers? Explain with examples based on network effects.”

 

References should not be counted in the final word count of the post, you can use any format (MLA / APA / etc.) for the references if included) minimum of 3 scholarly sources
This assignment will be graded as follows –
1) Breadth of the post: Meet word limit for the initial post (at least 250 words) (10 points)
2) Depth of the post: Apply at least two concepts covered in this module in the post. Must be clearly stated and highlighted (use either bold / underline / bullet points or headings) in the post (5 x 2 = 10 points)
3) Specificity of the post : Clearly identify specific example(s) for the discussion and it must be highlighted (use either bold / underline / bullet points or headings) in the post (5 points)
4) Interactiveness of the forum: Respond to at least 3 posts (4 X 3 = 12 points) **

 

Sample Solution

To understand the key sources of network value, it is important to recognize the structure of the network. Some networks derive most of their value from a single class of users. Economists would call this a one-sided market. But some markets are comprised of two distinct categories of network participant. Economists would call this kind of network a two-sided market. In one-sided markets, users gain benefits from interacting with a similar category of users (think instant messaging, where everyone can send and receive messages to one another). In two-sided markets, users gain benefits from interacting with a separate, complementary class of users (e.g., in the video game industry console owners are attracted to platforms with the most games, while innovative developers are attracted to platforms that have the most users).

andwriting, and dressing themselves. Legos likewise help in a kid’s number related abilities since youngsters need to figure out how to add, deduct, duplicate, or separation the number of pieces they that requirement for their creation. A review has been finished to check whether Legos really increment mental turn of events. There were two gatherings of children and one gathering had the option to play with legos for a month and the other gathering couldn’t play with Legos. After the month, the children were put through a progression of tests to perceive how well their fine coordinated movements created. Through the review, it was seen that the children, who played with Legos for a month, had a huge increment on their mental turn of events. Second, Legos can fortify a youngster’s close to home abilities. Legos can assist with supporting a kid’s close to home improvement by providing them with a feeling of achievement and to show them steadiness. With the feeling of achievement, kids can feel a deep satisfaction after they make something, which can prompt an expansion in self-assurance. Legos can show youngsters tirelessness since Legos are little, which can prompt slip-ups. This permits the kids figure out how to adapt to the dissatisfaction of mix-ups and to continue to work until they take care of business. Finally, Legos can help in interactive abilities by helping out peers. Kids can help out companions to assemble something together.

Legos have likewise had the option to act as an establishment for future vocations. They can act as an establishment since kids that have played with Legos are as of now presented to abilities required in later vocations. By fostering a youngster’s number related abilities and capacity to follow many-sided headings, this has considered future specialists and engineers to thrive in their fields. A model would be the manner by which a lady’s little girl has had the option to utilize her previous encounters with Legos to have the option to involve them in her occupation being an engineer. She had the option to review past plans she made with Legos and executed them in the structures she plans now(Cooke). Legos have likewise helped individuals in workmanship professions. Legos assist youngsters with investigating their inventiveness by being incorporated into anything that they can envision. There are currently craftsmen that emphasis on mostly utilizing Legos to make bits of craftsmanship.

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