Activities on Espace
Sunday, February 15, 2009please be checking your espace module workbin and announcements as there has been a series of updates now that everyone in allocated respective access into the module workbin.
Labels: development, globalization, poverty, World Bank
Hi there,
There were two interesting questions raised in 106:
Where do we place ebay.com within the classification of industries. Seeu Kun went to do some research and here are her findings.
There's still a question on arts goods being giffen goods..
----------------Start----------------------------
eBay Inc. is an American Internet company that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell goods and services worldwide. In addition to its original U.S. Web site, eBay has established localized Web sites in thirty other countries. eBay Inc. also owns PayPal, Skype, StubHub, and other businesses.
Type of industry: Auctioning
Products: Online auction hosting, Electronic Commerce, Shopping Mall, Paypal, Skype, Gumtree, Kijiji
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the winning bidder. On eBay, items are put on auction and whoever is the highest bidder for that particular item will buy the item. On eBay, people are actually able to make money from selling their stuff.
Based on my point of view, eBay should be in the tertiary industry. In the tertiary industry, a more monetary based industry; it involves the selling of goods and provision of services and allows the people involved to make money. IT services are also part of the tertiary industry, as it facilitates communication between people, internet services, connects businesses etc. As eBay is an online auction and shopping website, it provides the service online, thus, we can conclude that eBay is in the tertiary industry.
She went on with more information and this is definitely some plus point information. :)
There are certain strategic advantages of an online auction business model:
No time constraints. Bids can be placed at any time (24/7). Items are listed for a number of days (usually between 1 and 10, at the discretion of the seller), giving purchasers time to search, decide, and bid. This convenience increases the number of bidders.
As highlighted through her research here, ebay actually springs from the tertiary industries, as a type of financial and service based business. However, now that ebay is a virtual meeting place for sellers and buyers to meet, it does take on a quinary profile. As mentioned in class, one company need not sit neatly in one type of industries only.
Labels: data representation
No.of visitors who came to GE1102 blog