network effect
Definitions
The higher growth rate of businesses with higher market share in those segments of economy in which the value of a product or service depends on the compounding effects of the number of existing users of the product or a service, as is the case with telephone networks.
Examples
“Aided by preferential attachment and network effects (the phenomenon of a good or service becoming more valuable the more people who use⟳ it), a handful of winners emerge⟳, overshadowing other available options.”
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.
See also
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