1.Compare the evolution of electronic commerce to other historic changes in economic organization, e.g., the Industrial Revolution. 2. Discuss why the “boom and bust” categorization of the first wave is considered a myth. 3. Why was the sale of digital products fraught with difficulties during the first wave of electronic commerce? Use the music industry as an example. 4. Briefly discuss how companies began the second wave with a renewed interest in making the Internet work as an effective advertising medium. 5. Discuss how Web 2.0 technologies that enabled part of the growth in electronic commerce that occurred in the second wave will play a major role in the third wave.
1.Compare the evolution of electronic commerce to other historic changes in economic organization, e.g., the Industrial Revolution. 2. Discuss why the “boom and bust” categorization of the first wave is considered a myth. 3. Why was the sale of digital products fraught with difficulties during the first wave of electronic commerce? Use the music industry as an example. 4. Briefly discuss how companies began the second wave with a renewed interest in making the Internet work as an effective advertising medium. 5. Discuss how Web 2.0 technologies that enabled part of the growth in electronic commerce that occurred in the second wave will play a major role in the third wave.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1.Compare the evolution of electronic commerce to other historic changes in economic organization, e.g., the Industrial Revolution.
2. Discuss why the “boom and bust” categorization of the first wave is considered a myth.
3. Why was the sale of digital products fraught with difficulties during the first wave of electronic commerce? Use the music industry as an example.
4. Briefly discuss how companies began the second wave with a renewed interest in making the Internet work as an effective advertising medium.
5. Discuss how Web 2.0 technologies that enabled part of the growth in electronic commerce that occurred in the second wave will play a major role in the third wave.
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