What do your understand by information economy? Give your appreciation in the relevance and value of information/knowledge economy to library and information studies

The term "information economy" refers to an economic system that is characterized by the production, distribution, and use of information as a commodity and a key driver of economic growth and development. The information economy is based on the creation, dissemination, and utilization of knowledge and information for economic gain. The knowledge-based economy involves the development and application of new technologies, innovations, and intellectual capital, as well as the creation and exchange of information and ideas.

The relevance and value of the information/knowledge economy to library and information studies are significant in several ways. Firstly, the information/knowledge economy provides a framework for understanding the changing nature of work, production, and distribution in the modern world. This includes a shift away from traditional industrial and manufacturing-based models _____ __________ ______ ________ __________ ______ ________ ___ __________ ____ ______.
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