Free Internet? Everyone should have free Internet access to education, news, jobs, and more.: Source: Internet.org by Facebook, May 4, 2015 Explain how Internet access has changed the production possibilities and the opportunity cost of producing education and news. Explain why it is not possible for everyone to have free Internet access to education, news, jobs, and more.
Production possibilities frontier tells about the set of possible consumption of goods and services a society can produce given the available resources. choices inside the PPF are inefficient and choices outside the PPF cannot be attained due to lack of resources. Opportunity cost is the cost of producing the other good or what must be given up in exchange for something.
Internet has changed the production possibilities and the opportunity cost of producing education and news. Internet or WI Fi which is the most wonderful technology of sending signals through air has reduced the need for workers, transport to some extent and training classes etc. Anyone can get the required information through a single touch on internet. It has reduced the dependency to a huge extent. This leaves the room for the resources to be utilised for the production of the other things and this technology has shifted the Production possibilities curve outward. So in all, it has contributed to ECONOMIC GROWTH. It has also reduced the opportunity cost because more can be produced in lower cost. Internet has scaled down the cost of many things due to its efficiency and feasibility.Now education and news can be acquired through internet without buying newspapers, attending expensive training classes and thus reducing the cost.
But it is not possible for everyone to have free internet access to education, news, jobs and more as Milton Friedman sgests that there is no free lunch for anyone. Producing internet access requires resources. hose resources could have been used for something else. So to have free internet access we must have less of some other goods or services. So if its free to some individual, it can have an opportunity cost to society.
Country's economy can be efficient if the country takes every opportunity to make some of the people better off without making other people worse off. So instead of providing free internet access, we should find the ways for efficient utilisation of resources so that it can contribute more to economic growth and make people better off without making someone worse off.
Free Internet? Everyone should have free Internet access to education, news, jobs, and more.: Source: Internet.org...
Free Internet? Everyone should have free Internet access to education, news, jobs, and more.: Source: Internet.org by Facebook, May 4, 2015 Explain how Internet access has changed the production possibilities and the opportunity cost of producing education and news.
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