Consider Developments in the Computing Industry

question 27

Essay

Consider developments in the computing industry. Old leading firms rely on using large computers, called mainframes, to serve their commercial customers. Because of the increased capability of personal computers, new firms in the industry can use personal computers or small workstations to provide the same services as the leading firms but at lower average costs. Describe the impact of these new arrivals on the computing industry in the short run and in the long run.

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Definitions:

Nonprofit Organizations

Entities that operate for the benefit of the general public without the primary goal of making profits for owners or stakeholders.

E-Commerce

The buying and selling of goods and services through the internet, including the transfer of money and data to execute these transactions.

Virtual Account Number

A unique identifier used in financial transactions to represent a user's actual account information securely, often to protect financial data in online transactions.

Electronic Payment

Electronic payment refers to a method of making transactions or paying for goods and services through electronic means over the internet, without the use of check or cash.