CMST 1A03 Study Guide - Final Guide: Long Tail

• School: McMaster University
• Department: Communication Studies
• Course: CMST 1A03
• Professor: Terence Flynn

Document Summary

Free market - (economy/theory) the general approach to commerce, positioning that a free market is the most efficient way of creating and allocating social resources. (economic gov is free) - supply determines demand, and demand determines supply. Horizontal relationship - a unique arrangement between readers and a news organization, where reader members are invited to participate in decision-making in terms of both developing story ideas and administrative issues. Journalist members are the primary story contributors and the editors do the admin. work for the organization. While some of the published material is contributed by volunteers, such a cooperative pays contributors wherever possible, in both cash and exchange. Long tail - concept introduced by chris anderson of wired magazine, whereby the distribution/display costs are much more forgiving in the online world. Because of very low costs for display and distribution, and because item costs are low but access is easy, consumers choose widely rather than focusing their choices solely on hits.