3. Definition of E-Commerce Electronic Commerce is the process of doing business online or electronically over other networks It consists of buying and selling products or services over the internet or other networks Basically, E-Commerce is an “Internet Economy” that also affects the global economy
4. Internet’s effects on the Economy: Revenue and Profit Many companies can now provide services and products by utilizing the internet. Websites such as Amazon, Stub Hub, EBay grow and benefit from this Retail companies such as Target, Wal-Mart, and Best Buy now expand business to the Internet New content and services from social media, gambling sites, travel sites, music sites, and adult content are also producing revenue
5. Internet’s effects on the Economy: Increased Advertising Opportunities The internet has expanded the market for advertising Online videos provide excellent opportunities for commercial advertisements Search engines such as Google provide space for advertisements The Internet process is a much quicker and more efficient way of advertising, instead of advertising in a newspaper or magazine
6. Internet’s effects on the Economy: Expansion of jobs With more online based companies starting, more employees are needed to work for the companies More opportunities for outsourcing, which creates job globally More jobs created within traditional retail companies with expansion of internet business
7. Internet’s effects on the Economy: Open-source software The internet provides users with free software that can compete with software giants such as Microsoft or Apple Many useful websites use open-source software to provide internet users a free sharing economy Wikipedia is an example of an open-source website where people may ad content, or use content to benefit themselves
8. The internet's negative effects on the economy Problems with regulation Electronic signatures Privacy concerns Although many jobs are created from the internet, many are lost due to companies needing less workers to run their business Fraud and crime
9. Example of a negative form of E-Commerce http://www.colbertnation.com/the-colbert-report-videos/265469/march-02-2010/the-word---kid-owe
10. References Rust, Len. "Web 2.0 Revives Internet Economy - Washingtonpost.com." Washington Post - Politics, National, World & D.C. Area News and Headlines - Washingtonpost.com. 22 Oct. 2007. Web. 29 Nov. 2010. <http://www.washingtonpost.com/wp-dyn/content/article/2007/10/22/AR2007102200753.html>. Kalaw, Martine. "The Internet and Its Effect on the Economy and Governement." The Dark Side of the Internet. Http://people.hamilton.edu. Web. 29 Nov. 2010. Lessig, Lawrence. “Two Economies: Commercial and Sharing”
