Question

Which describes the "Network Effect?"

Answer 1

The statement which best describes the network effect is a platform becomes more useful as more people join and use it.

What is "Network Effect?"

Network effect is the theory which tells that when the number of person increases in a network, then the value of the product or service in that network is also increases.

Key points of network effect are listed below:

• In the network effect the value of product or service of a network increases when the more people join and use it.
• Network effect is well utilized by e-commerce companies by promoting their business through the customers.
• The best example of network effect sides are social media sites.

Thus, the statement which best describes the network effect is a platform becomes more useful as more people join and use it.

Learn more about the network effect here;

brainly.com/question/26199042

#SPJ1