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Define the Term Industry Structure and Discuss the Ways the Internet

question 7

Essay

Define the term industry structure and discuss the ways the Internet and e-commerce have changed the five forces that characterize industry structure.


Definitions:

Solar City

A city or urban area that predominantly uses solar energy to meet its energy needs, often through widespread installation of solar panels.

Behavioral Economics

A field of economics that analyzes how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.

Nudge

A concept in behavioral economics suggesting a way to influence people's behavior and decision making subtly without limiting their choices.

Hedonic Treadmill

A theory suggesting that people continually seek higher levels of wealth, status, or possessions but do not achieve lasting increases in happiness.

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