What impact has information services and the Internet had on consumers and businesses?
A) They have shifted the balance of power between consumers and businesses because consumers are able to compare prices, read independent rankings, and obtain greater product knowledge.
B) The Internet and other information services have not had a substantial impact on consumers and businesses.
C) The balance of power between consumers and business has remained the same because businesses have obtained greater access to information about their competitors.
D) Greater information services and the Internet have shifted power back to businesses since they can now obtain more information about their customers.
E) Laws and regulations represent the influence businesses have on consumers and vice versa---whether or not information is more readily available does not impact the laws governing consumers' rights.

Question

Quizplus · Accepted Answer

Information services and the Internet have had a significant impact on both consumers and businesses. Consumers now have access to more information about products, prices, and reviews, which has shifted the balance of power towards them. On the other hand, businesses also have access to more information about their competitors, but overall consumers have benefited more from the increased access to information.

What Impact Has Information Services and the Internet Had on Consumers