Final answer:
Smartphones are most likely to have significant network externalities due to their reliance on network infrastructure and the vast ecosystem of apps and services developed for them.
Step-by-step explanation:
An example of a product with significant network externalities would be smartphones. Smartphones rely on a network infrastructure, such as telecom providers, Wi-Fi, and cellular networks, to function properly. The more people using smartphones, the more valuable the network becomes, as it allows for communication, data transfer, and access to online services.
Additionally, smartphones benefit from a vast ecosystem of apps and services that are developed specifically for them. This creates a network effect, where the more people using smartphones, the more developers will create apps, and the more valuable the smartphone platform becomes, attracting even more users.
On the other hand, products like smartwatches, laptops, and refrigerators are less likely to have significant network externalities. While they may have some level of network connectivity, they are not as reliant on network effects for their core functionality or value.