The Economic and Social Impact of E-commerce
By Daniel Karam
2. BODY –
a. Understanding E-commerce:
b. E-Commerce’s Impact on economy:
b.i. GDP Growth
b.ii. E-Commerce in developing countries
c. E-Commerce’s Impact on society:
Electronic commerce has had large economic effects in the last twenty years. Internet commerce has changed the face of businesses forever. In this study we are going to look over the basic features and types of e-commerce and see how it affect economy by enhancing the productivity growth worldwide and how it has created opportunities for developing countries. The impact of e-commerce on developing countries could be even stronger than that on the developed ones.
E-commerce has grown largely popular over the last 15 years and it has affected our lives rather positively. We use it for online shopping, banking, payment systems and many more .The use of electronic commerce has made a huge impact on the way our economy functions now-a-days and on how we live socially as well and it has the power to alter economic activities and the social environment.
Understanding E-commerce :
Electronic commerce is a new way of conducting business. It is generally the process of buying goods and product over the internet. These digitally enabled commercial transactions take place between and among organizations and individuals. Some of its unique features is that its available to everyone with an internet connection so its potential market size is equal to the size of the online population of the world (Global reach).It ranges from businesses receiving orders via their website through to automates systems to control the supply chain from the initial customer contact right through to management of...