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By improving communication and allowing greater trade and specialization

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14y ago
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khiisavv

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1y ago
costs and benefits are subjective. APEX
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14y ago

The internet radically reduces the cost of creating, sending, and storing information while making that information more widely available. The Internet reduces search costs, allowing customers to locate products, suppliers, prices, and delivery terms. The Internet enables companies to collect and analyze more detailed and accurate information about their customers, allowing these companies to better target market their products and services. The Internet shrinks information asymmetry and has transformed the richness and reach of information. It can help companies create and capture profits in new ways by adding extra value to existing products and services. It also provides the foundation for new products and services.

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Q: How has the Internet benefited the economy?
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