Answer to Question #164039 in Microeconomics for Abid Khan

Question

What is the use of the internet in managerial economics?

Answer 1

The Internet will produce significant cost savings in many sectors of the economy, resulting in faster productivity growth. It will also produce lower prices for consumers, resulting in faster growth in living standards. In addition, the Internet allows products to be exported to more markets, often by younger companies. With an increase of internet use in the exporting country, the number of products traded between two countries also increases.