Online Retail Sales Stood at $22

question 198

Short Answer

Online retail sales stood at $22.7 billion for 2000. For the next 2 years, they grew by 32.4% and 27.4% per year, respectively. For the next 6 years, online retail sales are projected to grow at 30.5%, 19.6%, 24.2%, 13.4%, 17.4%, and 10.1% per year, respectively. What are the projected online sales for 2008? Round your answer to the nearest tenth.
$__________ billion

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Definitions:

Commodities

Goods or services that are traded, bought, or sold.

Economy

A system of production, consumption, and distribution of goods and services within a society or geographical area.

Distribution

The process of making a product or service available for the consumer or business user that needs it, which can involve transportation, packaging, and delivery.

Production

The process of creating, developing, manufacturing, or bringing forth goods and services, typically involving both human labor and tools or machinery.