The Role and Impacts of e-Transaction in Current Economy
Transaction costs have played very crucial role on resource allocation in a market economy. The use of modern information and communication technology (ICT) in making business can significantly reduce the transaction cost. But the influence of online commerce on the transaction cost can be very different between branches. Therefore applying ICT in commerce will not only have important influence on a market, but also profound implication on the structure of an individual and of the global economy.
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