Question
Asked Dec 16, 2019
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Explain each one of these.

1. Government Black Entry

2. Control Key Resources

3. Network Externalities 

4. Economic of Scale

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Expert Answer

Step 1
  1. Government Black Entry

The black market is defined as the illegal market. The government entry to the black entry is defined as the sting operation into the illegal market to capture the large market information. To relate with the covert type operation, to understand the market dynamics that would help in accessing the information It would be how there would be government ability to clandestine entries into the illegal structure to understand or absorb some information.

Step 2

2. Control Key Resources

Key resources are the resources that help in producing goods or been able to provide the services. It is defined as the key inputs which would be helpful in the related provision of the given services. As the key resources can also be segregated into the human resources, which includes the labor and management, along with the nonhuman resources, which includes the land, capital goods, and other factors like the financial resources, and technology.

A key resource is also based on the system that would be helpful in the facilitation that is related to the production and distribution of goods and services. Key resources are helpful for the inputs based on the way it is produced and distributed through the goods and services. To control the key resources means to have an effective use, that would lead to the optimum utilization of the resources and lack of misallocation or improper use that could be related to the resources.

Step 3
  1. Network Externalities 

It is defined as how there would be an effective way that could be helpful in the product or service concerning the user and for the given access to the same or compatible products or services. Positive network externalities are defined as the benefits (also called the marginal utility) that would subs...

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