“Digital economy” in the functional sense can be defined as a set of activities and facilities aimed at meeting human needs under conditions of scarcity, which are based on the use of digital information and communication technologies.

“Digital economy” is the teaching, practice and institution of the systematic approach to eeting human needs under the conditions of existing scarcity based on the use of digital information and communication technologies.

The word “digital economy” refers to those parts of the economy whose value creation, transaction, allocation, distribution and profit creation are based on the use of digital information and communication technologies.

The emergence of a digital economy is a consequence of digital change. The spread of digital information and communication technologies in the course of digitalisation has led to a change in the structure and functional logic of technical, economic, social and political systems and processes. This is a digital transformation. As a result, large parts of the economic processes are shifting to the digital info sphere.

The terms cyber economy and virtual econoym are used synonymously with the term “digital economy”.

Subordinate terms are internet economy, online economy, online economy, and network economy.