Showing posts from February, 2022


  WHAT IS GLOBALIZATION?  This is the technological effect in reducing the physical distance among nations through information technology to bring about socio-economic integration. It is the increased integration of world economies through trade and capital flow facilitated  by the growth in information technology. Through globalization, there is cross national flows of goods and services and shon tem and long tern capital flow. Globalization is the process of international integration arising from the interchange of world views, product, ideas and other aspect of cultute. Through globalization, the whole world has become a single market.  It implies that and goods and services, capital and labour are traded on worldwide basis. Globalization ensures freedom of exchange, flow of capital, goods and services and capacities across national boundaries.  FACTORS RESPONSIBLE FOR GLOBALIZATION  Change in technology : Computerization and technological breakthrough have positive impact on globa


  Information technology impacts the economy through e-commerce, redefined organizational boundaries, marketing, privacy, globalization, job redesign, and security. Explore the definitions of these terms and how they affect business and the economy E-Commerce The last decade has seen incredible changes to the economy due to electronic commerce. The landscape is now dominated by large commercial retailers such as Amazon. Entrepreneurs have harnessed technology and changed the way we conduct and transact business, and even individual businesses now make transactions using Amazon's platform. Electronic commerce, or e-commerce, enabled by information technology, has fueled many changes and created a new economy.   E-commerce  is the buying and selling of products over the  E-commerce eliminates barriers such as time, geography, language, currency, and culture. Just think how the pandemic of 2020 would have progressed without the ability to buy almost everything through an online storef


IMPACTS OF ICT ON GLOBAL ECONOMY  INTRODUCTION  This is a broad based technology that supports the creation, storage, manipulation and communication of information. A significant milestone in the dovelopmont of the ICT industry in the country is the formulation of a National Information Technology Policy (NITP) which was approved in March, 2001 by the Federal Executive Council. With the enactment of this policy came the establishment of an implementing agency —the National Information Technology development Agency (NITDA) in April 2001. This agency is charged with the responsibility of implementing Nigeria's IT policy "as well as promotes the healthy growth and development of the IT industry in Nigeria. Information Technology means the technical knowhow and the infrastructure to run the information system. It deals with computer data and application system and where resources are deployed. Rapid changes in information technologies have brought about changes in all areas of hum