Tiffany Torres
Mr. Reuter
Economics
10/26/2015
Google’s Monopoly of the Global Economy
If you don't know the answer to something, ask google! In fact it seems nowadays that consumers turn to google for everything and I mean EVERYTHING. From being a search engine, a map resource , a place in California and even a grocery store service it seems like Google has everything you could ever want or need.
The more and more additions google makes to the services they provide, the more of a demand the consumers have for the google product. While google provides some services that other stores and/ or websites also provide, consumers find an opportunity cost in using google and their product. First off google is a one stop shop. Secondly you can access google and almost every single one of their services at your fingertips. As a matter of fact while reading this very blog, you could have also purchased tickets to the new star wars movie through the use of google. While there are alternative substitutes to google, they are hardly used. This Chart below shows the search engine usage by browser.
According to Forbes, if a Google employee passes away, "their surviving spouse or domestic partner will receive a check for 50% of their salary every year for the next decade." This small fact just goes to show you how much money, and how successful the google company is. On a worldwide basis, Google employed 54,604 full-time employees as of June 30, 2012, compared to 33,077 full-time employees as of March 31, 2012. The company google has $54 billion in U.S. economic activity during 2009, and has an even bigger global economic impact. This video explain the impact that google plays on the economy. Econ Impact video.
Google has its own sort of global interdependence meaning that
production and consumption of the google products occur on an increasingly international scale. Because google is such a big cooperation, the ability to make their products is fairly easy and cheap. Therefore according to the law of demand, Consumers will buy more of the google product because they are at a lower price. With all of the services provided by google, Google will continue to play an important role in not only the global economy , but all of our individual lives.
Works Cited
"What Did the Web Do for Businesses in 2014?" Economic Impact Report – Google Economic Impact. Web. 24 Oct. 2015.
"What Did the Web Do for Businesses in 2014?" Economic Impact Report – Google Economic Impact. Web. 23 Oct. 2015.
Google is almost taking over. It has surpassed any other company out there. If anyone does anything online, weather it be, researching a question, looking up directions, watching a video, shopping, or writing a paper, chances are they are using google, or used google to get where they are. Google services can be considered inelastic because people would be willing to pay more for this recourse that not only lasts forever, but is so widespread and integrated into everyday lives. Not only have they dominated the computer and network, they have created many physical things like tablets, and smart cars. Google has arguably done the best job to meet the constantly changing consumer expectations.
ReplyDeleteWe rely on Google for practically everything, from simple searches to directions, and everything in between. A company that some guys started in their garage is now a multi billion dollar monopoly, that seems like it may reign supreme forever. With technology advancing as fast as it is, Google is right there in it, at the touch of a button A grocery store, soon to come drone services, and even a car that drives itself, Google is truly amazing. And that pay out to family after you die, sort of makes me want to work for Google. Though there are many search engines like it Bing and Firefox really don’t stand a chance against it.
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ReplyDeleteGoogle is at the forefront of innovation. The have contrived a self driving car that is currently driving on test roads. They also bought the company of YouTube when they predicted that it would turn into something very popular and profitable, which it did become. However they did make the erroneous decision of creating Google+ and forcing you to have an account if you want to post comments on YouTube videos.
ReplyDeleteGoogle has been one of the greatest innovators in progressing the advancement of technology through the past decade. They provide so many different products as you mentioned in your piece and cater to a large amount of demographics across many countries. Their ability to keep creating to programs and devices have made them one of the most successful companies in history and will continue to be a leader in the global technology market.
ReplyDelete"Google has its own sort of global interdependence" I think this is super interesting, I wonder if since they are based in America if this still forces them to follow American government policies with their profit. Also I'm curious if their popularity was just from the apps and other functions available of the search engine, or if it had anything to do with competing against other search engines. For example, you need a google account to have a Youtube account. Soon enough, Google may have a monopoly over search engines on the internet!
ReplyDeleteDespite other search engines being available to use, Google has almost created a monopoly because they are everywhere. Everyone uses google and it has gone so far as to change our language so we say "I Googled ____" instead of "I searched for____." Google is a huge company today and I would be surprised if someone ever told me that google would not exist in 50 years. Today it is impossible to use the internet like a normal person and not use google.
ReplyDeleteGoogle is also a passageway to any site that you want visit and is also used the most by people. According to searchengineland.com, 80% people use google as their primary search engine.They also have the biggest market shares, 88%, out of all the search engines. The reason google is the most popular is because it makes it easy to find anything, from translation to maps to pictures and so on. The best part is that the information you are trying to find appears within seconds by relevance. So the most used and most recent information appears on the first page, along with millions of other options on the following pages if you do not find what you need. As the world keeps evolving, google will stay in demand because of its efficiency. Supplying the information is free to the user except for the wifi you are connected to and time you spend research anything and everything you could ever need to know.
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