What is an information economy?
Information Economics is a theory in microeconomics that has developed simply because of the unique nature of information. While almost everything in the world has become a commodity, including information, it is not all the same. The information economy takes these unique property properties and applies it to a more acceptable economic theory. If you buy a shirt, others are naturally deprived of the use of this shirt. This deprivation theory is central to most economic theories.
It simply does not exist in the information economy. One person consuming information does not prevent another person from consuming this information. According to the theory of the information economy, everyone can share consumption equally. Although it may be true that buying a book is preparing other people to buy it, not to prevent information from consuming. Rather, it just relieves other use of this particular copy of information. If the products become more rare or in demand, while the supply remains the same, the value increases. With an informationHowever, this is not the case with the economy. Information is not rare and is constantly becoming less rare. Since then, normal economic theory would not do.
Information economy therefore suggests that the cash value of the information must be presented to create an opportunity for trade, if it is the final desire of the supplier. Otherwise, those looking for information will go to sources where the information is free. One way to achieve this is to associate information in such a way more useful, giving the consumer an advantage over others without associated information.
Therefore, people can decide to go to college, for example, rather than just study a subject or course. While the same information they would learn in the class can be available in other applications, they will not be presented or connected in the same way. Therefore, there is a better chance of maintaining and practical applicationor in terms of class, some believe. The information economy predicts that some will choose a college on the basis of this volume. The theory, however, ceases to say that everything will choose this alternative.