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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. [1][2] The digital economy is backed by the spread of information and ...
The knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. [1] The key element of value is the greater dependence on human capital and intellectual property as ...
In economics, a network effect (also called network externality or demand-side economies of scale) is the phenomenon by which the value or utility a user derives from a good or service depends on the number of users of compatible products. Network effects are typically positive feedback systems, resulting in users deriving more and more value ...
Innovation economics is new, and growing field of economic theory and applied / experimental economics that emphasizes innovation and entrepreneurship. It comprises both the application of any type of innovations, especially technological, but not only, into economic use. In classical economics this is the application of customer new technology ...
t. e. One of the major subfields of urban economics, economies of agglomeration (or agglomeration effects), explains, in broad terms, how urban agglomeration occurs in locations where cost savings can naturally arise. [1] This term is most often discussed in terms of economic firm productivity. However, agglomeration effects also explain some ...
Technology is the application of conceptual knowledge to achieve practical goals, especially in a reproducible way. [1] The word technology can also mean the products resulting from such efforts, [2][3] including both tangible tools such as utensils or machines, and intangible ones such as software.
The platform economy has experienced rapid growth, disrupting traditional business models and contributing significantly to the global economy. [2] Platform businesses are characterized by their reliance on network effects, where the platform's value increases as more users join. This has allowed many platform companies to scale quickly and ...
In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. [1] The term, "disruptive innovation" was popularized by the American academic Clayton Christensen and his ...