Consider the “dot-com” companies of the 1990s. There were thousands of these “dot-com” companies that emerged to take advantage of the Internet and new information technologies. Some thrived and remained as household names such as Amazon and Google, while many others struggled and failed. How does the market determine which companies succeed and which ones fail? More specifically, how does the market determine what goods and services will be produced?
Consider the “dot-com” companies of the 1990s. There were thousands of these “dot-com” companies that emerged to take advantage of the Internet and new information technologies. Some thrived and remained as household names such as Amazon and Google, while many others struggled and failed. How does the market determine which companies succeed and which ones fail? More specifically, how does the market determine what goods and services will be produced?
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter26: Earnings, Productivity, And The Job Market
Section: Chapter Questions
Problem 12CQ
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Consider the “dot-com” companies of the 1990s. There were thousands of these “dot-com” companies that emerged to take advantage of the Internet and new information technologies. Some thrived and remained as household names such as Amazon and Google, while many others struggled and failed. How does the market determine which companies succeed and which ones fail? More specifically, how does the market determine what goods and services will be produced?
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