our current economic model

Learning Goal: I’m working on a economics report and need an explanation and answer to help me learn.

1. Economic Background

1.1 what is economy

1.2 economic history

2.our current economic model

2.1 how would you describe our current economi model?

2.2 how has it changes (more digital, digital goods, competetion,

3. take a model that exsist today and compare it to a cashless society (non digital transaction)

====== max 3 pages (2500 words)

Use some of the phrases below when answering the questions. It should be written as a essay/report

network effects analysis – The network effect is a phenomenon whereby increased numbers of people or participants improve the value of a good or service

business modelling – a company’s core strategy for profitably doing business,

bundling – Bundling is when companies package several of their products or services together as a single combined unit, often for a lower price than they would charg

lock-in – In economics, vendor lock-in, also known as proprietary lock-in or customer lock-in, makes a customer dependent on a vendor for products and services

switching costs – he costs a consumer pays as a result of switching brands or products

path dependency – the continued use of a product or practice based on historical preference or use

market analysis- A market analysis is a quantitative and qualitative assessment of a market

quantitative modelling – Quantitative models are compact representations where a single differential or difference equation may describe the performance of the system for a large set of input functions and initial states (Lunze, 1998)

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