Electronic Markets at LMU München

Flashcards and summaries for Electronic Markets at the LMU München

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Exemplary flashcards for Electronic Markets at the LMU München on StudySmarter:

What are the characteristics for idea markets?

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How does Google Ghost Ads work?

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What is money? (3)
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Describe what an externality is!

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Characteristics of a command economy (3)

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Who is hurt by an inflation - why? (2 examples)

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How is the EU calculated?
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What is economic growth?

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How are the TC (total costs) calculated?

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Why is product differentiation done?

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Describe “positive economics”
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What is “ceteris paribus”? - in english and what does it mean?

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Exemplary flashcards for Electronic Markets at the LMU München on StudySmarter:

Electronic Markets

What are the characteristics for idea markets?
Decision support, wisdom of crowds, tournament, market mechanism

Electronic Markets

How does Google Ghost Ads work?
- Google creates a control group out of the pool of users who would have seen your ad - but instead of showing your ad, the control group sees the next ad in the auction - they can see if those users converted anyway - If they did, then the display ad would not have had an effect and was not incremental - If they do not convert, then maybe it would have been incremental. - They then compare the control group’s behavior to the overall group.

Electronic Markets

What is money? (3)
- means of payment
- store of value
- unit of account 

Electronic Markets

Describe what an externality is!
A cost imposed or benefit bestowed on individual/ group that is outside to the transaction!

Electronic Markets

Characteristics of a command economy (3)
Allocation by government: - targets - prices - incomes

Electronic Markets

Who is hurt by an inflation - why? (2 examples)
1. owners of nominal assets (bonds)
2. people with a fixed term of nominal wage 

Electronic Markets

How is the EU calculated?
Probability * Utility

Electronic Markets

What is economic growth?
The increase of the total output of an economy

Electronic Markets

How are the TC (total costs) calculated?
TC = TFC + TVC Total fixed costs + total variable costs

Electronic Markets

Why is product differentiation done?
- to achieve market power

Electronic Markets

Describe “positive economics”
Understand behaviour - describing what exists and how it works

Electronic Markets

What is “ceteris paribus”? - in english and what does it mean?
All else equal - device to analyze the relationship between two variables, while the value of all other factors/ variables is held unchanged

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Marketing at

Hochschule für angewandtes Management

E-Marketing at

FOM Hochschule für Oekonomie & Management

Marketing at

Hochschule Albstadt-Sigmaringen

Marketing at

ZHAW - Zürcher Hochschule für Angewandte Wissenschaften

Marketing at

APOLLON Hochschule

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