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First, new economic models are needed because digital goods have very low or even zero marginal costs unlike most traditional goods, thus many traditional assumptions no longer hold in a digitized world. Second, the rate of improvement of computers, networks and other engines of digitization, is exponential, as reflected by Moore's Law.
As of 2014, the gap in a digital divide was known to exist for a number of reasons. Obtaining access to ICTs and using them actively has been linked to demographic and socio-economic characteristics including income, education, race, gender, geographic location (urban-rural), age, skills, awareness, political, cultural and psychological attitudes.
The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional brick-and-mortar economic activities (production, distribution, trade) are being transformed by the Internet and World Wide Web technologies.
Consider using a credit card for purchasing a computer to take advantage of cash back, rewards points, or miles. Depending on the rewards rate on your particular credit card, that $1,200 computer ...
Even the shaman's potions and sacred objects can be said to have involved some technology. So, from the very beginnings, technology can be said to have spurred the development of more elaborate economies. Technology is seen as primary source in economic development. [8] Technology advancement and economic growth are related to each other.
The starting point for economic analysis is the observation that information has economic value because it allows individuals to make choices that yield higher expected payoffs or expected utility than they would obtain from choices made in the absence of information.
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Information industries are considered important for several reasons. Even among the experts who think industries are important, disagreements may exist regarding which reason to accept and which to reject. First, information industries is a rapidly growing part of economy. The demand for information goods and services from consumers is increasing.