Essays on Economic Growth in China and India Case Study

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The paper "Economic Growth in China and India" is a perfect example of a macro & microeconomics case study. Safety with regard to carrying out online transactions as the strengthening the method through which online transactions take place has reduced the chances of misuse of funds and provided an opportunity through which the different users are able to ensure the safety of funds (Shopping, 2013). This has thereby improved the demand elasticity of internet shopping as safety has ensured that more and more people are able to purchase the product. The opportunity to use different forms of payment method provides an opportunity for the customers to carry out the transactions effectively (Shopping, 2013) The low transaction cost which the internet involves makes customers purchase the same from the internet.

The low transaction cost includes the cost of convenience as it provides an opportunity for the customer to purchase the same from the comfort of the home and need not travel to the traditional stores to purchase the product (Shopping, 2013) The internet model also helps the consumer to gather more information about the products and services in comparison to the information that can be gathered through traditional methods.

Since using the traditional method will ensure that the customer will look at the price by visiting one or two stores but the internet provides an opportunity where all information can be gathered easily and quickly thereby ensuring easy availability of information (Shopping, 2013) Internet shopping has also developed due to the growth in the social networking site which creates awareness and provides an opportunity for different customers to understand the product better. This has thereby guided the customer to purchase the product accordingly as it has provided the required knowledge based on which purchase decisions are made (Shopping, 2013) The possibility of purchasing products online through a number of devices like mobile handset, desktop, laptop, and others has multiplied the opportunity and ensures that customers can carry out the role of purchasing the product or services from any place (Shopping, 2013) The development of pop up stores by the different online players which allows customers to inspect the product before purchasing the product has multiplied the effect of online shopping.

References

Colell, M., Winston, A., Michael, D. & Jerry, R. 1995. Microeconomic Theory. 3r Edition, New York, Oxford University Press, Pearson Education

Farmer, R. E. A. 2009. The Macroeconomics of Self-Fulfilling Prophecies, 2nd edn, Cambridge, MA:MIT Press.

Garg, S. 2010. Microeconomics: Introductory. 7th edition, pp 3.11-9.17, Dhanpat Rai Publication

OECD. 2013. OECD. Retrieved on May 3, 2013 from http://www.oecd.org/statistics/

Shopping. 2013. Shopping Becomes a Net gain. Retrieved on May 3, 2013 from http://education.theage.com.au/cmspage.php?intid=152&intversion=32

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