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OIM 210 EXAM 3: QUESTIONS AND ANSWERS (100%)
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OIM 210 EXAM 3: QUESTIONS AND ANSWERS (100%)
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OIM 210 EXAM 3: QUESTIONS AND ANSWERS (100%)When the number of Snapchat users began to increase, Snapchat became a
must have app for messaging needs. The network effect of Snapchat users
attracting their friends as users is an example of:
A: Cross-Side Exchange Benefits
B: Group-think
C: FOMO
D: Same-side exchange benefit
E: Two-sided market power Right Ans - D
What is a Social Proof?
A:Proof that social media really works
B:Proof that society judges new ideas negatively
C: Positive influence created when someone finds out that others are doing
something
D:Positive influence created when someone finds out that no one else is doing
something
E: none of the above Right Ans - C
Example of Social Proof is
A:Getting rides from strangers is not scary!
B:Studying at someone else's apartment is ok.
C:Finding someone online to take care of your kids is not a bad idea!
D:Is it ok for a stranger to walk your pet.
E:All of the above! Right Ans - E
Products or Services that add additional value to the network are known as:
A: Complimentary Benefits
B: Subsidized adoption
C: Offerings
D: Resource Tools
E: All of the Above Right Ans - A
A prediction market involves:
A: Leveraging customers to virally promote a firms product or services
B:Aggregating the opinions of a specialized group of experts who analyze a
problem and suggest solutions.
, C: Making calculated estimates on the prices of goods and services based on
speculation
D: Polling a diverse crowd and aggregating opinions to form a forecast of an
eventual outcome
E: Trading on essential goods and services with a view of making a profit by
hiking prices Right Ans - D
The "we" is smarter than the "me" is a concept known as "wisdom of
crowds".........
A: A group of individuals collectively has equal insight when compared with a
single individual
B: The Wisdom of a large group is never greater than the wisdom of a small
group
C: A group of individuals, consisting of mostly untrained amateurs has more
knowledge than trained professionals
D: None of the Above Right Ans - A
Amazon's Mechanical Turk is an example of crowdsourcing. This concept is
defined as:
A: The act of moving a job from a group of ineffective employees to an efficient
employee.
B: The process of selling products to people in the guise of conducting
marketing research.
C. The act where a group of people moves from one country to another while
looking out for better work opportunities.
D: the act of taking a job traditionally performed by a designated agent and
outsourcing it to an undefined generally large group of people in the form of
an open call.
E: the movement of employees from one department to another with the aim
of improving their skill sets. Right Ans - D
Network Effects are also known as:
A: Physical wires or wireless system that connects pieces of electrical....
B: Metcalfe's Law and Network Externalities
C: Effects achieved due to high PR and Networking effects
D: Success with new products achieved by strong connection
E: All of the above
F: None of the above Right Ans - B
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