What Does the Following Statement Mean: "Without Networks, the Computer

question 91

Short Answer

What does the following statement mean: "Without networks, the computer on your desk would be merely another productivity tool, just like the typewriter once was"?

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Definitions:

Conspicuous Consumption

The spending of money on and the acquisition of luxury goods and services to publicly display economic power or social status.

Induced Consumption

Consumer spending that increases when income rises and decreases when income falls, reflecting a direct relationship between income and consumption.

Total Consumption

The aggregate amount of goods and services consumed by individuals, households, and others in an economy during a given period.

Consumption Function

An economic formula representing the relationship between total consumption and gross national income.