What is Digital Economy? Meaning, Advantages & Disadvantages (1)

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What is Digital Economy? Meaning, Advantages
Disadvantages

• All economic transactions that occur on the
  internet involve Digital economy, therefore it is
  the one collective term for all economic
  transactions. It is also known by different names
  such as the Web Economy or the Internet Economy.
• As we know the world is continually changing,
  With the advent of technology and the process of
  globalization, digital transformation with the
  digital as well as traditional economies is
  emerging in the world.

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What is Digital Economy?

• Digital economy is defined as the economic
  activity which arises as a result of billions of
  everyday online connections among people,
  businesses, devices, data, and processes. In
  other words, you can say that it is an economy
  that focuses on digital technologies that are
  based on digital and computing technologies.
• Thus, there is no specific digital economy
  definition. So, it includes activities that are
  supported by the web and other digital
  communication technologies and namely include
  business, economic, social, cultural activities.

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There are three main components of the Digital
economy which are
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Advantages of Digital Economy

• Promotes Use of the Internet
• Rise in E-Commerce
• Digital Goods and Services
• Transparency

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Disadvantages of Digital Economy

• Loss in Employment
• Lack of Experts
• Heavy Investment

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Conclusion

• The concept global economy refers to all
  economic transactions done on the internet.
  Though with the coming of digital economy
  competition and productivity has increased in the
  market. Moreover, it drives innovation and job
  opportunities, as well as economic growth, is
  achieved. Thus, you need to understand the
  digital economy as a whole and the impact of the
  digital economy as a whole for a better and
  developed future.
• Read Here a full blog- https//financeninsurance.
  com/digital-economy/