Explain each of the following concepts: positive feedback, network effects, and tippy market. Explain how the three concepts relate to one another.

2. Offer an example of a tippy market, and an example of a market that does not tip.

3.Can you differentiate physical and virtual networks? Can you provide examples of each?

4. Information, as an economic entity, behaves quite differently than traditional goods. Identify the principal economic characteristics of information and draw the primary implications for strategy

5. Explain what we mean by the richness/reach trade-off. Why is this concept important today for general and functional managers? Provide examples of recent technologies that have pushed the richness/reach trade-off frontier further out. What industries or organizations are under pressure as a consequence of this development?

6. Do you believe that “the internet changes everything” or is it “just another technology”? Be sure to defend your position.

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