THE IMPACT OF THE INTERNET.

The Impact of the Internet on the Growth and Direction of the United Kingdom Economy

Impact of Internet

Introduction

“Internet is the first thing that humanity has built that humanity doesn't understand, the largest experiment in anarchy that we have ever had”. Above are the words of Eric Schmidt, and I truly agree with him. Internet is something that has revolutionized our life completely. Today, we are living in a world that is altogether computerized and technically updated and where everyone is tech-savvy. In this technologically modernized and advanced world internet has immense importance.



Discussion

Internet is a forum that carries numerous information and entertainment as well. In the words of Dave Barry;

“What, exactly, is the internet? Basically it is a global network exchanging digitized data in such a that any computer, anywhere, that is equipped with a device called a modem, can make a noise like a duck choking on a Kazoo”

So, it is clear from the above definition of Dave Barry that internet has got treasures of knowledge and information and those who take advantage of this get success and prosperity. In today's world no one can stay away from internet for every other need we have to use internet. Whether we have to buy a car or any other product we go on internet to get the information regarding prices, new models and availability in the market.

On one hand, internet enriches us with immense information allow us to develop our knowledge and grip on any given subject. On the other hand, it is the reason behind the growth and prosperity of different industries in different walks of life. The magic of internet has shown its miracle in almost in every field of life. In today's world basic economy of a country is also get affected by the internet and it has very major impact on the elevation or decline of economy of a country. In this paper, my objective is to describe the impact of internet on economy and what measures that we can take to improvise the impact of internet on economy.

Internet and economy

Now the question arises how internet contributes to the economy? Internet economy refers to the trade and business that takes place on internet. It includes underlying economy of e-commerce. Internet contributes to the general economy of the country in two ways, first, by the internet industry itself and second by the electronic transformation of different traditional industry. As more and more industries are moving towards internet and converting their business in on line business the contribution of internet in the economy is increasing.

As an on-line business provides advantages of quick communication with customers and easy access to the international market, this urges different industries to adopt on-line form of business.

As the customers on internet have easy and wide access on information it generates pressure to lower down the price making the sell of goods and services cheaper and frequent on internet and that is how internet contributes greatly to the ...