Emerging Economic Systems and the Internet of Things

The video discusses the emergence of a new economic system called collaborative commons, driven by zero marginal cost. This concept is transforming industries by reducing costs to near zero, making goods and services almost free. The Internet of Things is expanding this phenomenon into the physical world, leading to a third industrial revolution characterized by interconnected communication, energy, and logistics systems. This shift allows consumers to become producers, leveraging big data to enhance productivity and reduce costs.

What is the new economic system emerging alongside capitalism and socialism?

• Green Economy

• Collaborative Commons

• Digital Economy

• Sharing Economy

What is the primary trigger for the emergence of the collaborative commons?

• Government policies

• Technological advancements

• Zero marginal cost

• Increased global trade

How did the zero marginal cost phenomenon initially affect the information industry?

• It led to increased profits

• It caused many businesses to close

• It resulted in higher prices

• It had no significant impact

What term describes consumers who also produce and share content?

• Collaborators

• Innovators

• Entrepreneurs

• Prosumers

Why did the freemium model fail to convert users to premium services on a large scale?

• Lack of quality content

• High subscription costs

• Abundance of free content

• Poor marketing strategies

What is the Internet of Things expected to impact beyond information goods?

• Only communication networks

• Only digital services

• Only financial markets

• Energy and physical goods

What are the three components converging in the Internet of Things?

• Manufacturing, retail, and services

• Finance, technology, and health

• Education, transport, and agriculture

• Communication, energy, and logistics

What form of energy is associated with the third Industrial Revolution?

• Coal energy

• Nuclear energy

• Natural gas

• Renewable energy

What type of vehicles are part of the new mobility in the third Industrial Revolution?

• Driverless automated vehicles

• Electric cars

• Hybrid vehicles

• Bicycles

What is the expected number of sensors by 2030 in the Internet of Things?

• 10 billion

• 100 trillion

• 50 billion

• 1 trillion