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As we move beyond the initial phases of the information age, we are witnessing a major shift in the ways that business is conducted. Business

As we move beyond the initial phases of the information age, we are witnessing a major shift in the ways that business is conducted. Business has traditionally been conducted on the basis of scarcity. In fact, much of classical economics is based upon the idea that resources are scarce. Goods and services were available in limited supply and consumers of those goods and services paid for them. Now, we appear to be moving into a period of abundance, with digital goods and services that are available in nearly infinite quantities at extremely low cost. Identify examples of businesses that produce adundant goods and services and discuss their business models. How do they profit? How should such products be priced?

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