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Questions and Answers
What is the primary significance of Moore's Law in the context of technology development?
What is the primary significance of Moore's Law in the context of technology development?
- It suggests that network connections are less valuable as more devices are added.
- It states that the processing power of computers will remain constant over time.
- It implies that the cost of computer hardware will increase exponentially.
- It predicts that the number of transistors on a chip will double every one and a half to two years. (correct)
How does Metcalfe's Law describe the value of a network?
How does Metcalfe's Law describe the value of a network?
- The value of a network is determined solely by its hardware capabilities.
- The value of a network is directly proportional to the amount of data processed.
- The value of a network declines as the number of members increases.
- The value of a network grows exponentially as a function of the number of network members. (correct)
Which of the following is NOT a characteristic of digital products?
Which of the following is NOT a characteristic of digital products?
- They are expensive to produce but cheap to replicate.
- They are immaterial.
- They function as a public good.
- They are easily destroyed in physical form. (correct)
What does the term 'Creative Destruction' refer to in the context of technological advancement?
What does the term 'Creative Destruction' refer to in the context of technological advancement?
Which statement best describes the role of ICT in socioeconomic progress?
Which statement best describes the role of ICT in socioeconomic progress?
Flashcards
Digital Revolution
Digital Revolution
The shift from mechanical and analog to digital electronics, marking the start of the Information Age.
Moore's Law
Moore's Law
The observation that the number of transistors on a chip doubles roughly every 1.5-2 years, leading to exponential increases in processing power and storage.
Metcalfe's Law
Metcalfe's Law
The value or power of a network increases exponentially with the number of users.
Digitization
Digitization
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Creative Destruction
Creative Destruction
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Study Notes
Digital Revolution
- Shift from mechanical/analog to digital electronics
- Marks the beginning of the Information Age
Moore's Law
- Number of transistors on a computer chip doubles every 1.5-2 years
- Processing power, speed, and storage increase exponentially as device costs decrease
Metcalfe's Law
- Network value/power increases exponentially with the number of members
- Processors get smaller and cheaper
- Networks become more valuable
Digitization
- Widespread adoption of connected digital services (consumers, businesses, government)
- Key driver for economic growth and job creation
Characteristics of Digital Products
- Immaterial
- Borderless
- Physically indestructible
- A public good (use by one doesn't limit others)
- Inexpensive to replicate, but expensive to initially produce
Creative Destruction
- One industry replaces another
- Examples: cassette tapes replaced by MP3s, CDs replaced by Spotify
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