Question

Premise: The Internet-based economy is going to end up just like the old economy with the huge conglomerates controlling everything. Do you agree or disagree? Is this situation desirable or not? Give reasons for your opinion.

Answer 1

No, I don’t agree that internet based economy will going to end up like the old economy with the huge conglomerates controlling everything. The internet has given power to come up and be a part of main stream in the business. The companies like Amazon are encouraging people to start the work from home and earn money. It has given lot of power to common man and boosted their morale. The concept of cloud kitchen has drastically evolved with the support of internet and people are supplying homemade food at affordable rate to customers. These changes have shifted the gear and instead the conglomerates are getting tough competition from these small players.

The situation is desirable for the economy as it helps in distribution of power and control. The increased competition helps to improve the quality and customer satisfaction level of goods or services. The rates of products have also come down due to which consumption has increased. It is also leading to positive impact on the economy.

So, internet based economy must continue as it is desirable.