Week 6 Flashcards
states the effect of a telecommunications network is proportional to the square
Metcalfe’s Law
_______ is the positive effect described in economics and business that an additional user of a good or service has on the value of that product to others. When a network effect is present, the value of a product or service increases according to the number of others using it.
network effect
________ is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs.
total cost of ownership
______ is an intermediary economic platform having two distinct user groups that provide each other with network benefits. The organization that creates value primarily by enabling direct interactions between two (or more) distinct types of affiliated customers is called a multi-sided platform (MSP).
two-sided market
_______ is a process that occurs in a feedback loop in which the effects of a small
positive feedback
A ________ exists when a specific person or enterprise is the only supplier of a particular commodity
monopoly
______ is a business strategy that uses existing social networks to promote a product. Its name refers to how consumers spread information about a product with
other people in their social networks, much in the same way that a virus spreads from one person to another
Viral marketing
_______ is a type of computer software in which source code is released under a license in which the copyright holder grants users the rights to study, change, and distribute the software to anyone and for any purpose.
Open-source software
_________ refers to the act of creating a virtual version of something, including
virtual computer hardware platforms, storage devices, and computer network resources.
virtualization
_______ is a security bug in the OpenSSL cryptography library, which is a widely used
implementation of the Transport Layer Security (TLS) protocol. It was introduced into the
software in 2012 and publicly disclosed in April 2014. Heartbleed may be exploited regardless of whether the vulnerable OpenSSL instance is running as a TLS server or client.
heartbleed
______ is a family of free and open-source software operating systems built around the Linux
kernel. Typically, Linux is packaged in a form known as a Linux distribution for both desktop and server use.
Linux
______ is a widely used free software license, which guarantees end users the freedom to run, study, share and modify the software.
GNU General Public License
______ comes about when we make judgments about the probability of an event under uncertainty.
representative heuristic
Bob wins the lottery. Since he knows the overall probability of winning the lottery is really low, he does not bother buying another ticket. This is an example of Base Rate Fallacy.
false
Making initiatives ______ guarantees the largest possible audience, and that is key to realizing the benefits of network effects, data, and scale. Making initiatives ______ creates the risk that not enough users will sign up and that the reach and impact will be limited.
opt-out; opt-in
