Q&A: How do computers lower search costs for producers and consumers?

by Public Citizen

Question by : How do computers lower search costs for producers and consumers?
How do computers lower search costs for producers and consumers? What effect does this have on price equilibrium?

Best answer:

Answer by ozone dude
Computers(along with the internet) help producers search for raw materials and new markets.Instead of hiring people for searching raw materials and markets producers can do it easily through the internet similarly consumers will also save a lot of money on transportation by shopping through the internet.This will ultimately reduce the price of commodities since the cost of production decreases.

What do you think? Answer below!