ELEC 4445 QUIZ 1: Q&A
Q1: We identified new products-e.g. eye glasses, iPhone - having important economic impacts. Name two other sources of potential economic disruption.
A1: Electronic cars; artificial skin
Q2: The success of Apple can be in large part credited to:
A2: Apple creating new markets with little competition
Q3: During his presentation, our first guest lecturer Simon Poole, illustrated the telecom industry as a layering of industry participants. Which of these layers did not exist before the creation of the Internet?
A3: Service providers
Q4: The economist Joseph Schumpeter (1883-1950) is well known for identifying which economic concept?
Q5: According to Lazirina Stoy (Week 1 targeted reading), when discussing first and second mover advantage, which of the following statements is (are) true?
A5: if the competition is on the basis of quantity, the advantage goes to the first mover;
if the competition is on the basis of price, the advantage goes to the second mover.
Q6: Which statement best define an entrepreneur?
A6: A leader investing his time, money and/or reputation the early phase of a startup.
Q7: In the US, a general rule, startups creates more jobs yearly than established firms (age>1)
Q8: What is meant by “showrooming”?
Q9: How many years before the Apple App Store revenues equal the total Hollywood box office revenues?
A9: 5 years