Differences between types of economies

at that place are tether main types of economies in the e prowesshly concern according to the types of argument they do 1. land based economy This is the oldest form of economies in the world. The economy by its temperament has sm each firms and has a limited economy of scale. The economy is usually overriding in third world countries like Vietnam 2. Industrial economy An industrial economy is stronger than an agricultural one and only(a), due to the larger size of firms and higher parliamentary procedure go forth tend to get under ones skin large firms, as industry has a substantial economy of scale.Mnay of the countries started their developent power points from this type of economy 3. Service Economy A service-based economy has its size dependent on the types of sevices it provides. This mode not all industrial firms will be huge in size, and yet they cannot be considered as an economically weaker plane section. (Plexico n. d. ) Examples of all of these can be see n in the world, scarce the more advanced countries of the world are moving or have already moved from the for the first time through the second to the third.The US was the first country to become predominantly a Service economy (Plexico n. d. ) cushion of Computers on contrast Computer science is at a stage at which it can do more for the economy, more for the way business is done (Gates 2004) Many flock believe that the single most master(prenominal) change in the society in recent times has been brought slightly by the introduction of computers. The three types of economies which were described in the earlier section have all been significantly affected by the invention of computers. ab initio Business used computers for only keeping track of accounts, money, or items that they need, notwithstanding things changes at a lightning pace. It can be said that the speed, accuracy, the ability to do repetitive tasks are the backbone of todays research, manufacturing and yieldio n units. These characteristics similarly brought about the advent of the present Age of Information. The development of the World dewy-eyed Web is a major breakthrough in the advancement of chat (Ayers 2007). The information age brought about the concept of global markets to the industrial and agriculture section.While the prior age concept of trade sounds pretty close, the release is in the nature of open-markets, which are possible only because consumers know what is thither for sale practically everywhere in the world. While for service empyrean too the open markets mean the wider scope for selling, the services themselves can be performed at much lower rates in different split of the world. The open markets have in turn brought up the standard of mathematical product and service quality, as now the consumers have many options available for their purchases.There are newer ways of buying and selling available to consumers, like the e-businesses, where one can practically s hop or sell without leaving his home. In fact many economists believe that due to the advent of computers, the business has changed from macrocosm selling oriented where consumers had to buy the products closely resembling their needs, to being consumer oriented where consumers needs are the base for making newer products, and companies then design exercise marketing plans to pamper the consumers so that they actually buy the trigger officular product or service.Speculation about the future impact of Computers on Business Computers have affected the business methods so much that many people consider that area is saturated. This is hitherto not the case, according to the point of hatful of many scientist and engineers. The argument given here is that, while the computers have better a lot from the time when it was the prerogative of a few get scientists and researchers, to the present usage by hundreds of millions of people the interface needs to be brought much closer to th e common man, especially in third world countries.The first major impact would be when the computers would have perfected the art of conversation. The ability to speak to our computers is a critical part of the interface we will end up with (Ayers 2007). This would make the computers seem more human to people. another(prenominal) major improvement would be a perfect translation capability, which means people would no longer be hampered when they are interacting with a likely buyer or seller from a different culture. Some other possible uses would be a cheaper single interface which would connect a person to his component, vehicle and home all times from any part of the world.This would mean, there would no longer be any formal office locations. This possibility is a very real one, with many people already subscribing to the this work from home or any part of the world concept, however it is still not a part of the popular culture As is seen the computers have and would still con tinue to impact the way business is done. The skillful advances have been phenomenal and would continue to be at the same pace, carry the world closer. However, to integrate these technologies to modify ways of business would be up to the members of the business community.