You Have an Entrepreneurial Spirit and Decide to Start Your

question 38

Essay

You have an entrepreneurial spirit and decide to start your own business. You know you first have to consider the degree of digitization you are going to pursue for your new business. What does this mean? What are your options? Which option would you choose and why?

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Definitions:

GDP Increases

The rise in the market value of all final goods and services produced within a country over a specific time period, indicating economic growth.

Price Level

A measure of the average prices of goods and services in an economy over a period of time, often used to assess inflation.

Value Added

The increase in worth of a product or service as a result of a particular process, excluding the cost of initial raw materials.

Intermediate Goods

Products used as inputs in the production of final goods, such as raw materials or components, not sold directly to end consumers.