Question

Define and give examples of:

Internet

Intranet

Extranet

Asymmetric information

Answer in relation to the Web and the Global organization of production

Answer 1

Internet- The internet is the broader network that helps enterprises, states, universities and other organisations to speak to each other about computer networks around the globe. The effect is a network of wires, computers , data centres, routers , servers, repeaters, satellites and wifi towers that make it easy to fly around the world with digital knowledge. You can buy the weekly store, post your life on Facebook, watch Outcast on Netflix, contact your aunt in Wollongong and check the web for the tiniest cat in the world.

Intranet- An intranet is a data network for the exchange within an institution of knowledge, communication resources, operating systems and other computing facilities, typically to the exclusion of outsiders' access. Unlike public networks, such as the Internet, the word is used but uses much of the same technologies based on the Internet Protocol Set,

Extranet-An extranet is a managed private network that provides access, usually to a subset of the information available from the intranet of an entity, to partners, distributors and suppliers or an approved group of clients. An extranet is similar to a DMZ in that it provides approved parties with access to the resources requested, without granting access to the entire network of an entity. Historically, the word has often been used periodically in the sense that two entities share their internal networks over a virtual private network.

Asymmetric information-When one party to an economic exchange has greater material intelligence than the other party, asymmetric information, also known as 'information loss,' exists. Usually, this manifests when the purchaser of a product or service has more expertise than the buyer; but it is often possible to reverse the dynamic. Almost all economic transactions include the asymmetry of knowledge.