Read the statements given below and explain 

 

1)

Facebook has a pretty big impact on the economy and society as a whole. There are many different things Facebook has to offer which includes one of their new features the marketplace. This allows people to buy and sell things for any price in local areas. This way you can avoid shipping and handling fees and faster pick up. You can also determine yourself whether the seller is a trustworthy based on their ratings. Facebook, as the large media platform it is, also allows for greater opportunity whether that's creating jobs or promoting yourself to even create a business. There are many different businesses that use Facebook as their central hub and it makes it easier for people who are already frequently on the app. Another feature Facebook has is the messenger app. This allows friends on Facebook to communicate in a quick manner, which is a lot easier if you are already on the app. One negative impact Facebook could have for businesses and normal everyday people are the cyber attacks. This could put businesses at risk of potentially losing customers. There are also lots of Cyber attacks that I've seen as of recent with "burner" accounts which are basically fake accounts people use because they believe they cannot get in trouble instead of using their real account.

2)

Right now I believe there is enough competition against Facebook (twitter and Instagram). Although many businesses do not use Twitter, there are still millions of people on the app and the same thing with Instagram. On the other hand, I believe there should more regulation to lessen the power of all social medias because in this day and age where people use social media so much it becomes second nature to believe everything on there.