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?

A4:

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)

A7: True

Q8: What is meant by “showrooming”?
A8: the ability to search in-store and then buy online.

Q9: How many years before the Apple App Store revenues equal the total Hollywood box office revenues?

A9: 5 years