Question
In: Economics
Discuss the different approaches of freeconomics.
Discuss the different approaches of freeconomics.
Solutions
Expert Solution
This is the process of providing free goods and services in the form of various approaches to the prospective customers. Such as the using of a website for hotel booking – once a room is booked in a hotel the website gets commission.
Approaches are as below:
No.1) Advertising: this is the approach where the above website advertises for the hotel.
No.2) Freemium: if a website search is free for basic searching and chargeable for advanced searching then this is freemium; suppose a plagiarism checking is free but grammar checking is chargeable in the same website then this is freemium.
No.3) Cross subsidization: this is the way of charging higher price for one service and lower price for another service in the same platform; like, face-to-face online learning is costlier than text book solutions. The lower priced service is actually subsidized by the higher priced service.
Rahul Sunny answered 1 year agoRelated Solutions
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