our current economic model

1. Economic Background 1.1 what is economy 1.2 economic history 2.our current economic model 2.1 how would you describe our current economi model? 2.2 how has it changes (more digital, digital goods, competetion, 3. take a model that exsist today and compare it to a cashless society (non digital transaction) ====== max 3 pages (2500 words) Use some of the phrases below when answering the questions. It should be written as a essay/report network effects analysis – The network effect is a phenomenon whereby increased numbers of people or participants improve the value of a good or service business modelling – a company’s core strategy for profitably doing business, bundling – Bundling is when companies package several of their products or services together as a single combined unit, often for a lower price than they would charg lock-in – In economics, vendor lock-in, also known as proprietary lock-in or customer lock-in, makes a customer dependent on a vendor for products and services switching costs – he costs a consumer pays as a result of switching brands or products path dependency – the continued use of a product or practice based on historical preference or use market analysis- A market analysis is a quantitative and qualitative assessment of a market quantitative modelling – Quantitative models are compact representations where a single differential or difference equation may describe the performance of the system for a large set of input functions and initial states (Lunze, 1998) S-curves – The ‘S-curve’ of the economic productivity of a commodity begins below the linear curve of investment public good – Public good (economics), an economic good that is both non-excludable and non-rivalrous · The common good, outcomes that are beneficial for all or most members ecosystem analysis – Ecosystem analysis is a mix of biogeochemistry, ecophysiology, and micrometeorology that emphasizes “the circulation, transformation, and accumulation of energy and matter through the medium of living things and their activities” (Evans, 1956)