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Modern business enterprise (MBE) is the organization and management of businesses, particularly large ones. [75] MBE's employ professionals who use knowledge based techniques such areas as engineering, research and development, information technology, business administration, finance and accounting. MBE's typically benefit from economies of scale.
The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional brick-and-mortar economic activities (production, distribution, trade) are being transformed by the Internet and World Wide Web technologies.
Microeconomic reform is the implementation of policies that aim to reduce economic distortions via deregulation, and move toward economic efficiency. However, there is no clear theoretical basis for the belief that removing a market distortion will always increase economic efficiency.
This movement of resources from lower- to higher-productivity activities is a key driver of economic development. [3] Within-sector productivity growth (also called ′sector transformation') entails the adoption of new technologies and management practices that increase the efficiency of production.
Digital transformation is often perceived as a reactive measure to address customer demands, competition, and regulatory compliance. However, it can be a proactive opportunity for organizations to achieve sustainable business practices and facilitate a circular economy. By building sensing, smart, sustainable, and social capabilities ...
Technology growth and efficiency are regarded as two of the biggest sub-sections of total factor productivity, the former possessing "special" inherent features such as positive externalities and non-rivals which enhance its position as a driver of economic growth. [citation needed]
While the Fed’s short-term borrowing rates can influence longer-term rates, there are many other factors that buffet 10-year government bond yields, including the outlook for economic growth ...
More recent technological inventions, including the printing press, telephone, and the Internet, have lowered barriers to communication and ushered in the knowledge economy. While technology contributes to economic development and improves human prosperity, it can also have negative impacts like pollution and resource depletion, and can cause ...