Network economics refers to business economics that benefit from the network effect, examples are website such as which multinational e-commerce corporation, facilitating online consumer-to-consumer and business-to-consumer sales?
Network economics Network economics refers to business economics that benefit from the network effect. It is also known as Netromix. This is when the value of a good or service increases when others buy the same good or service. Examples are website such as EBay, or iVillage where the community comes together and shares thoughts to help the website become a better business organization.
Consumer education Consumer education is the preparation of an individual through skills, concepts and understanding that are required for everyday living to achieve maximum satisfaction and utilization of his/her resources. It is defined as education given to the consumer about various consumer goods and services, covering price, what the consumer can expect, standard trade practice, etc. Such information may be relayed through magazines, websites or word of mouth. While consumer education can help consumers to make more informed decisions, some researchers have found that its effects can drop off over time, suggesting the need for education initiatives to be ongoing or periodically repeated.