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nt Tools Table Window Help a Jamie Dawalt 1.docx 108% Charts SmartArt Review Paragraph Styles AaBbCcDdE AaBbCcDdE AaBbCcD AaBbCcDdE L를 三 La·làoll Normal NO Spacing Heading 1- Heading 21 #7 In the 1990s thousands of "dot-com" companies emerged with great fanfare to take advantage of the Internet and new information technologies. A few, like Yahoo, eBay, and Amazon, generally thrived and prospered, but many others struggled and eventually failed. Explain these varied outcomes in terms of how the market system answers the question "What goods and services will be produced?" ges: 3 of 4 d outcomes in terms of how the market system answers the ectation of economic profits lured many new firms into the "dot- Words: 470 of 628

Answer 1

its true that in the 1990s many companies like yahoo ebay amazone flipkart orkut facebook and many more started to emerge but very few of them survived this is because those who failed couldnot understand what exactly the market wants and should be produced. one key word i would like to highlight here and that is now a days the companies who are wise enough treats CUSTOMER AS THE KING. the argument here is that the market is consist of buyers and the sellers. the amalgamation of both will create the market. the market will be efficient only if the producer are meeting the consumers expectation otherwise as  there is no monopoly in the market and people have thousands of options to go for they will move from one website to other to get what they want. those firms who understood this survived and others those who couldnot had to get out of the business.