In the 1990s thousands of "dot-com" companies emerged with great fanfare to take advantage of the Internet and new information technologies. A few thrived and prospered while others failed. Explain these varied outcomes in terms of how the market system answers the question "What goods and services will be produced"?
We have the best example of a company that thrived when we study Amazon.com. The company employed various strategies when it was developed and continued to revise and redevelop those strategies as the elements surrounding the Internet changed. As a result, they are the world's largest online retailer, as cited in many online reports and statistics. The difference between sites like Amazon and other sites that have barely made a profit or that have failed is in the use of business strategies. Companies have to move with the market, as they have. Online ...
This solution provides a thorough explanation to the question presented regarding the market system. The conditions that were present in the 1990's for online retailers as compared to the current conditions are also examined.