Information Economy

Pronunciation: /ɪnfərˈmeɪʃən ɪˈkɑnəmi/

Definitions of information economy

noun a noun is a word that represents a person, place, thing, or idea. 'information economy' is a noun phrase that refers to an economic system based on the production, distribution, and consumption of information and knowledge.

Example Sentences

A1 An information economy relies heavily on the exchange of data and knowledge.

A2 In an information economy, the value of goods and services is often based on intellectual property.

B1 The shift towards an information economy has transformed the way businesses operate.

B2 The development of technology has accelerated the growth of the information economy.

C1 Government policies play a crucial role in shaping the information economy.

C2 The globalization of the information economy has led to both opportunities and challenges for companies.

Examples of information economy in a Sentence

formal The information economy refers to an economic system where information is the primary commodity.

informal In today's world, the information economy plays a crucial role in shaping industries and markets.

slang The gig economy is a prime example of how the information economy has transformed the way people work.

figurative Just like a currency, information in the economy can be traded and leveraged for various purposes.

Grammatical Forms of information economy

• plural: information economies
• comparative: more information economy
• superlative: most information economy
• present tense: information economy
• future tense: will be information economy
• perfect tense: has been information economy
• continuous tense: is being information economy
• singular: information economy
• positive degree: information economy
• infinitive: to be an information economy
• gerund: being an information economy
• participle: having an information economy

Origin and Evolution of information economy

First Known Use: 1980 year

Language of Origin: English

Story behind the word: The concept of an information economy can be traced back to the rise of the internet and digital technologies in the late 20th century.

Evolution of the word: Initially, the term 'information economy' referred to the shift from traditional industrial economies to ones driven by information and knowledge. Over time, it has come to encompass the exchange, production, and use of information in various sectors of the economy.