Discuss the Key Elements of an E-Commerce Business Model

question 67

Essay

Discuss the key elements of an e-commerce business model.

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Definitions:

Rational Expectations

An economic theory that proposes people make choices based on rational judgements, accessible information, and previous experiences.

New Classical

An approach in economics emphasizing rational expectations and market clearing, often associated with a resurgence of classical economic principles.

Macroeconomists

Economists who specialize in studying the overall aspects of economies, including total output, unemployment, inflation, and economic growth.

Arthur Laffer

An economist known for the Laffer Curve, which theorizes there exists an optimal tax rate that maximizes government revenue without discouraging economic activity.