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What Has Been Gained and What Has Been Lost as a Result

question 42

Essay

What has been gained and what has been lost as a result of the digital revolution? Discuss, citing specific examples.


Definitions:

Government Spending

The total amount of money that a government expends on services, goods, and public projects.

Marginal Benefit

The additional benefit received from the consumption of one more unit of a good or service.

Marginal Cost

The additional cost incurred in producing one more unit of a product or service.

Public Good

A good that is both non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from its use, and use by one does not reduce its availability to others.

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