Do you know how to find online payment niet websiteWhy is this rhetorical at least so far? Well, even today, when, for example, many consumers indeveloped markets shop online fee rameesh there is still price variability, product differentiation,and brand loyalty to be found; and physical stores still trade profitably in High Streets and malls. Wewill see the so-called 'efficient markets hypothesis' (EMH), emerging in a number of forms again andagain throughout this book, applied to markets between businesses as well as between businessesand consumers. We will also see counter-arguments and empirical evidence which seek to showthat reality may be more socially and culturally determined than economists often allow for. Somehave coined the phrase to denote the way in which economics strays into other disciplines such associology and psychology (see, for example, the work of Gary Becker and Edward Lazar.

Understanding the tension that can exist between different academic disciplines is important ininterpreting what different writers have to say about the effects of e-business. Indeed, consider theenvironment for e-business from two other alternative and distinct perspectives. And finally it isalso important to recognize that many of these fundamental questions are still largely unresolved.Whilst we are now considerably wiser than we were in 2001, the Internet is still far too recent aphenomenon, and it continues to evolve, which makes reaching wholly definitive conclusions as toits consequences for organizations and individuals difficult. The extension of economics beyond theclassical scope of the subject. Some economists claim to be able to explain all social behavior byusing the tools of economics.

Nevertheless, sometimes commentators and analysts (and even company directors) subscribe to aform of technological determinism in which technologies such as the Internet are held to beunstoppable transforming forces. Often changes are anticipated which have not yet come aboutand claims for new technologies made which have little empirical evidence to support them. Thosewho claim that ICT and e-business technologies are less than utopian (such as writer Nicholas Carr)are commonly derided This chapter reviews the economic arguments for the particular contributionthat e-business makes to growth and productivity. It explores the consequences of e-businesstechnologies for the global economy. It identifies some of the microeconomic issues generated bye-business and the consequences for businesses and individuals. It has been consistently suggestedthat the benefits of appropriate ICT investment in general are potentially huge, leading to lowertransaction costs, higher productivity, and the enhanced capability for innovation and revenuegrowth.

Some of the economic evidence for the more general scale and contribution of e-businesstechnologies and ICT more generally within the UK as at. But the precise process is still relativelypoorly understood and the appropriate measurements difficult to make. In addition, differentcountries have invested in ICT and e-business of online payment niet technologies at different ratesand this may have affected the extent of any benefits they are able to achieve. For example,research by economists continues to show that there has been greater investment in and diffusionof e-business technologies through the US economy than through many Europeaneconomies demonstrated this in terms of the differing 'e-readiness' of particular countries.