What was the most important technological innovation in the last twenty years.

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2 years ago

Over the last twenty years or since the beginning of twenty first century there's no other human innovation that change the way we live and produce impact on our lives than the introduction and proliferation of Internet and it's actually the most important, which is even the reason for our communication currently online.

Internet is critical to the advancement of human development over the last few years, nowadays every technological evolution is aligned to the Internet, it has impacted every aspect of our lives, the world can't imagine an hour with Internet blackout.

What was the demand for this technology innovation?

Since our world is now moving on the Internet vehicle the demand for it will surely be excessive, especially during the early days of Covid-19 in 2020 when most people are locked down at their homes, business dealings, education, marketing, entertainment and other things become solely on the Internet, according to (PRNewswire, 2020) the global Internet market is said to reach $372.9 billion through 2023 which shows the demand is no longer diminishing.

Internet is supplied through vendors companies called Internet Service Providers (ISP's), ISP's usually use their own technologies, satellites, fiber-optics and cables to provide Internet to their consumers, which those consumers use smart phones, PCs, Desktops and other tools to access the Internet, usually in exchange for pay.

The quantity of good or service bought is directly proportionate to the price (Amadeo n. d), since the inception of internet it has been become more easier and cheaper to access during the early days of internet you only access it through your computer, while nowadays its just a touch on your palm, as the internet becomes cheaper more people are using it now than ever before.

There's an equilibrium between demand and supply of internet according to my own experience, though, there are more Internet services providers than ever before likewise the users, since Internet isn't a physical commodity that requires handling, shipment or delivery process, it's a matter of programming, compiling databases and operating with highly modernized systems.

There's equilibrium in supply and demand of Internet, though, usage of well performing programs and well designed ultra modern system would help and some processes that could be use to help provide accuracy and speed, but equilibrium I doesn't have to mentioned when talking about, Internet demand and supply.

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