MIS 301 Chapter 8
switching costs - correct answer ✔The cost a consumer incurs when moving
from one product to another.
oligopoly - correct answer ✔A market dominated by a small number of
powerful sellers.
one-sided market - correct answer ✔A market that derives most of its value
from a single class of users (e.g., instant messaging).
platforms - correct answer ✔Products and services that allow for the
development and integration of software products and other complementary
goods.
EX) Windows, the iPhone, the Wii, and the standards that allow users to
create Facebook apps
cross-side exchange benefit - correct answer ✔When an increase in the
number of users on one side of the market (console owners, for example)
creates a rise in the other side (software developers).
APIs (application programming interfaces) - correct answer ✔Programming
hooks, or guidelines, published by firms that tell other programs how to get a
service to perform a task such as send or receive data.
TCO (total cost of ownership) - correct answer ✔-An economic measure of
the full cost of owning a product (typically computing hardware and/or
software).
-includes direct costs such as purchase price, plus indirect costs such as
training, support, and maintenance.
switching costs - correct answer ✔The cost a consumer incurs when moving
from one product to another.
oligopoly - correct answer ✔A market dominated by a small number of
powerful sellers.
one-sided market - correct answer ✔A market that derives most of its value
from a single class of users (e.g., instant messaging).
platforms - correct answer ✔Products and services that allow for the
development and integration of software products and other complementary
goods.
EX) Windows, the iPhone, the Wii, and the standards that allow users to
create Facebook apps
cross-side exchange benefit - correct answer ✔When an increase in the
number of users on one side of the market (console owners, for example)
creates a rise in the other side (software developers).
APIs (application programming interfaces) - correct answer ✔Programming
hooks, or guidelines, published by firms that tell other programs how to get a
service to perform a task such as send or receive data.
TCO (total cost of ownership) - correct answer ✔-An economic measure of
the full cost of owning a product (typically computing hardware and/or
software).
-includes direct costs such as purchase price, plus indirect costs such as
training, support, and maintenance.
