Economic impact of e-commerce Essay
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Economic impact of e-commerce Essay
Electronic commerce, commonly known as e-commerce, is the buying and selling of goods or services over the internet. It has rapidly grown over the past two decades and has become a popular mode of conducting business across the globe. The rise of e-commerce has had a significant impact on the economy, which can be analyzed from various perspectives. In this article, we will discuss the economic impact of e-commerce in 1000 words.
- Increased Market Size and Global Reach E-commerce has significantly expanded the market size for businesses, especially small and medium-sized enterprises (SMEs), by providing them access to a global audience. With the rise of e-commerce, businesses can now sell their products or services to consumers in different parts of the world, overcoming geographical barriers. This has also increased competition and resulted in better prices and products for consumers. Moreover, e-commerce has enabled businesses to market their products or services online at a lower cost, allowing them to reach a larger audience and expand their customer base.
- Job Creation E-commerce has created jobs in various sectors, including logistics, IT, and customer service. As the demand for e-commerce services grows, companies need to hire more people to manage their operations. In addition, e-commerce has also created new job opportunities in areas such as web design, digital marketing, and data analysis, among others.
- Improved Efficiency and Cost Savings E-commerce has also led to improved efficiency and cost savings for businesses. By automating many of their operations, such as inventory management, order processing, and shipping, e-commerce businesses can operate more efficiently and at a lower cost than traditional brick-and-mortar stores. This has allowed them to offer better prices to consumers, which has contributed to the growth of online shopping.
- Disruption of Traditional Retail The rise of e-commerce has disrupted traditional retail, resulting in the closure of many physical stores. This has had a significant impact on the economy, particularly on employment. However, it has also created new opportunities for entrepreneurs who have embraced e-commerce as a means of conducting business.
- Increased Demand for Digital Infrastructure E-commerce has increased the demand for digital infrastructure, including internet connectivity, data centers, and cloud computing services. This has led to the growth of the technology industry and the creation of new job opportunities in areas such as software development and cybersecurity.
- Data Collection and Analysis E-commerce has also led to the collection of large amounts of data, which can be analyzed to gain insights into consumer behavior and preferences. This has enabled businesses to offer more personalized products and services, resulting in increased customer loyalty and sales.
- Increased Competition and Innovation E-commerce has increased competition, which has resulted in better prices, products, and services for consumers. This has also led to innovation, with businesses constantly seeking new ways to improve their products and services to stay ahead of the competition.
- Taxation and Regulation The rise of e-commerce has presented challenges for governments in terms of taxation and regulation. Many e-commerce businesses operate across borders, which makes it difficult to determine the appropriate taxes to be paid. Governments have also struggled to regulate e-commerce businesses, particularly those based in other countries, which can pose a threat to local businesses.
In conclusion, the economic impact of e-commerce has been significant, with both positive and negative effects. E-commerce has expanded the market size for businesses, created jobs, improved efficiency and cost savings, disrupted traditional retail, increased demand for digital infrastructure, enabled data collection and analysis, increased competition and innovation, and presented challenges for taxation and regulation. As e-commerce continues to grow, it is important for governments and businesses to address these challenges and ensure that the benefits of e-commerce are shared equitably across society.
Economic impact of e-commerce Essay
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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