What is the key economic difference between the old economy and the digital economy?

Name: What is the key economic difference between the old economy and the digital economy?
Brand: Quizplus
Rating: 4.8 (54 reviews)

Question

Quizplus · Accepted Answer

The Answer is In the old economy the first law of economics applies (value comes from rarity) i.e. firms attempt to create entry barriers to stop other firms entering the market. In the new economy, value comes from plenty i.e. the more something is demanded, the more it will be demanded.

What Is the Key Economic Difference Between the Old Economy