Year 2021 1. Define information economy. Information economy is defined as the study of information affect economic analysis. It studies the importance of information in economics. 2. Define arbitration. Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision […]
Unit 1: Managerial Economics Basic
INFORMATION REVOLUTION VS. INDUSTRIAL REVOLUTION As e-commerce became all the rage in the late 1990s and as the Internet, World Wide Web, and other information technologies rapidly transformed the economic and social environment, many analysts, journalists, and scholars took the time to reflect upon the current transformations and breakthroughs and situate them in a broad, […]