Chapter 16—The Knowledge Economy Key
1. In the knowledge economy
2. One of the results of the knowledge economy
3. In the knowledge economy
4. Information
5. Some products of the knowledge economy
6. For patents to be effective
7. If marginal costs are virtually zero after initial units are produced
8. Diminishing marginal returns to labor means
9. Increasing returns means that
10. If diminishing marginal returns is in effect
11. If increasing returns is in effect
12. The value of a network
13. Workers who deal with information are generally referred to as
14. Knowledge workers have
15. An organization with hierarchy
16. If a knowledge worker knows more than has manager it makes
17. Entrepreneurs
18. Marginal costs and marginal benefits
19. If a seller incurs an obligation to generate an ancillary obligation of a certain value to offset the initial
buyer’s capital expenditure, then there is a(n) ____ in place.
20. Dominant firms tend to lag in innovation because
21. Government picking winners
22. If a firm has large start-up costs and nearly zero marginal costs
23. Being first only works
24. Increasing returns
25. If a firm experiences decreases in the per-unit costs of production as its network increases, then this firm is
experiencing
26. The supply chain has change very little over the past 50 years.
27. Knowledge has become measurably more important in today’s economy.
28. The information content of a product can never be separated from the physical aspect of the product.
29. Intellectual property rights are difficult to protect.
30. It is difficult to create barriers to entry if the information content of a product can be separated from the
physical aspects of the product.
31. If marginal cost is zero a firm can still profit through pricing.
32. Websites make money by charging to access the site.
33. Marginal costs rise if there are increasing returns.
34. If marginal costs are falling and below average costs, then average costs must be falling too.
35. Marginal costs rise if marginal product falls.
36. A network must be small if network externalities are to be huge.
37. Network effects are seen in manufacturing sectors.
38. Knowledge workers are becoming more common relative to production workers.
39. Managers must monitor knowledge workers closely.
40. Entrepreneurs are usually found in smaller firms.