Techno-economic value chapter 3 - Words

Question 1

Technology diffusion

Answer 1

The spread of a technology through a population, often showed as s-curves

Question 2

Dominant design

Answer 2

A single product or process architecture that dominates a product category – usually 50 percent or more of the market. A dominant design is a “de facto standard”, meaning that while it may not officially enforce or acknowledged it has become a standard for the industry.

Question 3

Switching costs

Answer 3

Factors that make it difficult or expensive to change suppliers or buyers, such as investments in specialized assets to work with a particular supplier or buyer.