The Internet And Its Impact On The Economy - 918 Words

The internet is a relative old concept, yet the rapid advancements and mass implications have made it convenient tool accessible to almost 50% of the world population. The idea of the internet is a derivative of its original design for, the Arpanet in 1969 (Abbate, 1999). In 1990, this technology experienced mass innovations and advancements as it was released to the general public by the United States’ Department of commerce, and within the next decade, over 40 million users became online. The uses of the internet are vast and limitless: from education to ecommerce and above. The introduction of this technology has had significant economic and social impacts. The introduction to ecommerce became an immerse method for businesses to expand to greater markets. In the United States, the retail ecommerce industry had projected almost $300 billion USD in sales during the year of 2014, and is estimated to project over half a trillion in sales by year 2018 (Statista, 2015). 3.0 Impacts 3.1 Impact on the Economy The internet has become a platform and hub for communication. This allows buyers and sellers to interact anytime, anywhere, which promotes trade. As a result, the introduction of the internet into the general public has allowed to the creation of many jobs. Some sectors include: communication mediums, telecommunications, marketing, advertisement, and collaboration. Communication mediums such as administrative applications that have replaced the need for telephone signalShow MoreRelatedThe Impact Of Internet On The Economy1544 Words   |  7 PagesIntroduction There has been a paradigm shift in the nature of the economy; from industrial to informational. 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PeopleRead MoreHow Does Science Affect The Economy1268 Words   |  6 Pages How does Science Affect the Economy Schiller International University Name: Frank A. Lloyd Professor: Dr. Hartman Read MoreMarketing Challenges1099 Words   |  5 PagesChallenges in a New Economy There is a new trend in today’s economy that does not involve large chain suppliers, retailers or wholesalers. This new trend involves companies that allow owners to rent out their physical assets to increase their income. This new business practice puts the producer directly in contact with the consumer to conduct business. This new trend in the consumer marketplace is known as the share economy. This paper will discuss how this new concept of the share economy has had an effectRead MoreImpact of E-Commerce to Malaysian Economy854 Words   |  4 PagesIMPACT OF E-COMMERCE ON THE MALAYSIAN ECONOMY E-commerce is the new buzz word. 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This recent deal has brought about a significant deal of controversy that has customers, companies, and corporations a like discussing whetherRead MoreThe Internet Of Our Lives1396 Words   |  6 Pages The Internet in Our Lives Nancy Cruz Norman Munroe EGN 1033 31 October, 2014 Table of Contents Abstract†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 Introduction †¦Ã¢â‚¬ ¦..4 Body†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...4-7 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.7 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 Abstract The â€Å"internet† is a broad topic, but if analyzation of its impact is examined at a scope worldwide, then one shall get a better understanding of its positive prospects and its more scary and dangerous ones. 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