CHAPTER TWO

DATA AND INFORMATION

1.3.1. BENEFITS OF NEW ECONOMY

Some of the benefits of the new economy are:

1.3.1.1. Low capital to start business
1.3.1.2. Create jobs and raise standard of living

1.3.1.1. Low capital to start business

Establishing business in the new economy is cheap, because most of the equipment’s used are cheap and durable. For instance, with few thousand naira, you can establish a small business center comprising of computers, printers, scanners etc.

1.3.1.2. Create jobs and raise standard of living

The new economy has raised standard of living of people in different parts of the globe, especially, the Americas, Britain etc. This is because families have access to different forms of employment-Self-employment, online business, work from home etc
Secondly, the new economy has led to the production of cheaper and affordable goods.
Thirdly, the new economy led to the improvement of the economic profile of countries.

EXERCISE

1. Define digital economy
2. Lists three countries that exhibit digital economy.
3. Write short notes on the old economy and its limitations

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