Seller beware

Article Abstract:

Online markets have developed rapidly. Businesses initially used online selling and buying as a way of cutting costs, and then third-party exchanges were developed. Consortia of major players in industries are being set up in a third phase. Demand can be smoothed through the exchange, allowing for lower stock levels. Suppliers may be concerned that pressures on them could increase. Major retailers and car manufacturers have the power to put pressure on suppliers, while other markets are fragmented at each side, so liquidity can be improved by online markets.

Markets (Economics)

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How to be perfect

Article Abstract:

Perfect competition is a concept in economics that could be applied to the internet, and it involves full information on demand and supply, with an absence of barriers to entry. Transaction costs would also be absent. Compettive auctions are an example where these conditions are almost achieved, and there have been claims that the internet can promote perfect competition. Products are often not homogenous, and this means that competition is often imperfect, even when other conditions for perfect competition can be achieved.

Competition (Economics)

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How wired is Britain?

Article Abstract:

British prime minister, Tony Blair, aims to encourage e-commerce in Britain, and in Europe as a whole. Britain has a high level of PC ownership, and English predominates as the language of the internet. the high cost of local phone calls is a deterrent, and British Telecom has a monopoly on access to customer phones and exchanges. Mobile phones and interactive digital TV may become more common than PCs as a way of accessing the internet, and this raises the question of the role of the British Broadcasting Corp.

United Kingdom, Economic policy, Electronic commerce, E-commerce

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