The Affects of the Newly Changing Economy on Teens essays

The Affects of the Newly Changing Economy on Teens essays The 21st century has brought many changes, one of, which is the way in which we conduct business. Commerace that was originaly conducted in person is moving more and more to a virtual setting. Teens make up 14% of online commerce and are projected to spend a total of which happens to be the largest single age group (based on a ten year scale) and are responsible for a great deal of our economic successes. Although this new market may be beneficial to our new global and capitalist economy, it may not always be beneficial for teens, and in some cases it may be harmful. Teens today have more money to spend due to the booming economy and they also have an easier way to spend it. Previous generations depended on parents to bring them to merchants. The Internet has allowed many teens to engage in commerce to the same extent as adults without hassle. This newly acquired convenience has not only made the purchasing of goods easier for teens but it has also allowed helped to fuel the economy. Teens participate in a number of on-line spending activities, in both the home and school environments. Such spending includes the purchase of books for school and other supplementary materials without ever leaving home. Recently, this process has been further simplified by the increase in the number of eWallets, which is a type of online bank account online teen shoppers. Another factor that has increased spending by teens is the emphasis placed on training youth to make smart financial decisions. This is being done in both home and school environments says, Geoffrey Ramsey, a Statistician at e-Marketer. In the scholastic venue many teens are becoming increasingly involved in consumer mathematics and economics. At home more and more parents are paying for financial education classes for teens. In a recent article, Mr. Ramsey also discussed how teens, with the supervision of their parents, are more involved than ever in online stock tradin...