Sorry you've not had any responses about this. 
Are you sure you've posted in the right place? 
Here's a link to our subject forum which should help get you more responses if you post there. 
Just quoting in Fox Corner so she can move the thread if needed
Are you sure you've posted in the right place? Here's a link to our subject forum which should help get you more responses if you post there. Just quoting in Fox Corner so she can move the thread if needed
Spoiler
Some starting ideas I would think about are:
- The internet and the digital economy helps SME's advertise and promote their businesses at a lower cost than traditional advetising.
- Competition helps drive down prices and improve customer service to generate more customer loyalty, so consumer benefits.
- The internet and the digital economy helps SME's advertise and promote their businesses at a lower cost than traditional advetising.
- Competition helps drive down prices and improve customer service to generate more customer loyalty, so consumer benefits.
So what you have to do is first write for and against the statement. When talking about perfectly competitive firms and monopolies always refer to how it affects the features of these two:
'For' benefiting small firms & making market more competitve:
1) Barriers to entry (fixed costs)- in this case costs would be low since you can just do retailing for example online without needing a store.
2) Because of low barriers to entry there are a large number of firms, making it competitive, so here draw the PC diagram and say it's a price taker. 3) Perfect information- internet has put a lot of info. for customers, and perfect info leads to more competitive market.
4) Like the other comment mentioned, advertising is not that expensive, you can use social media even, so most firms can afford it= competitive market
Against:
1) You can say internet can lead to innovation=patent=monopoly e.g. google search engine, or even you can give the example of facebook.
2) You can also say the internet allows company to create more loyal customers, for instance there's this thing called fitness pall where they say if you log into it on a daily basis like you get extra points, and i'm sure there are many game type websites where they do that. So if loyalty increases then it leads to monopoly.
Now you need to evaluate, so you need to basically choose a 'grey word' this means a word which is a bit ambiguous, in this case you can use 'some' or/and even 'benefitted' so for 'some' you could say what exactly is 'some' like how many it's quite ambiguous, because if it just means 2-3 markets then it's probably not true that the internet has lead to more competitive markets, as i can already thing of five from the top of my head where there's a monopoly in a market. For 'benefitted' you could say like in what way do they mean 'benefitted' the small firms? Do they mean the small firms making more profit? Or increasing their market share? Etc.
Also, you should evaluate through out, so like in each of those points that i gave you should end it with however the extent to which e.g. barriers to entry reduces depends upon the type of industry, for instance with retailing business sure everyone can sell stuff online, however with builiding a new social platform it's really difficult as Facebook and twitter have already taken up like half the market.
Also, my best friend got like A* in econ and full ums in some of her modules and she's uploading her Econ stuff onto a facebook page like her essays (which she got full marks in) and a list of evaluation points for all topics, and i've uploaded these things called 'top tips' for maths where basically i've included every little tricky thing that were in the past papers. Do you want me to send you the link for the facebook page
'For' benefiting small firms & making market more competitve:
1) Barriers to entry (fixed costs)- in this case costs would be low since you can just do retailing for example online without needing a store.
2) Because of low barriers to entry there are a large number of firms, making it competitive, so here draw the PC diagram and say it's a price taker. 3) Perfect information- internet has put a lot of info. for customers, and perfect info leads to more competitive market.
4) Like the other comment mentioned, advertising is not that expensive, you can use social media even, so most firms can afford it= competitive market
Against:
1) You can say internet can lead to innovation=patent=monopoly e.g. google search engine, or even you can give the example of facebook.
2) You can also say the internet allows company to create more loyal customers, for instance there's this thing called fitness pall where they say if you log into it on a daily basis like you get extra points, and i'm sure there are many game type websites where they do that. So if loyalty increases then it leads to monopoly.
Now you need to evaluate, so you need to basically choose a 'grey word' this means a word which is a bit ambiguous, in this case you can use 'some' or/and even 'benefitted' so for 'some' you could say what exactly is 'some' like how many it's quite ambiguous, because if it just means 2-3 markets then it's probably not true that the internet has lead to more competitive markets, as i can already thing of five from the top of my head where there's a monopoly in a market. For 'benefitted' you could say like in what way do they mean 'benefitted' the small firms? Do they mean the small firms making more profit? Or increasing their market share? Etc.
Also, you should evaluate through out, so like in each of those points that i gave you should end it with however the extent to which e.g. barriers to entry reduces depends upon the type of industry, for instance with retailing business sure everyone can sell stuff online, however with builiding a new social platform it's really difficult as Facebook and twitter have already taken up like half the market.
Also, my best friend got like A* in econ and full ums in some of her modules and she's uploading her Econ stuff onto a facebook page like her essays (which she got full marks in) and a list of evaluation points for all topics, and i've uploaded these things called 'top tips' for maths where basically i've included every little tricky thing that were in the past papers. Do you want me to send you the link for the facebook page
(edited 7 years ago)
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