Understanding E-Commerce

What is E-commerce?

• The exchange of goods and services for money

• Buying and selling goods and services over the internet

• A type of traditional commerce

• A method of advertising

Answer explanation

E-commerce specifically refers to buying and selling goods and services over the internet, distinguishing it from traditional commerce and advertising methods.

What are the advantages of E-commerce to organizations?

• Increased market reach

• Higher operational costs

• Limited customer access

• More paperwork

Answer explanation

E-commerce allows organizations to reach a global audience, significantly expanding their market reach. This advantage contrasts with higher operational costs, limited customer access, and increased paperwork, which are not benefits.

What is B2B E-Commerce?

• E-commerce between companies

• E-commerce between businesses and consumers

• E-commerce between consumers

• E-commerce between government and businesses

Answer explanation

B2B E-Commerce refers specifically to transactions conducted between companies, distinguishing it from B2C (business to consumer) and C2C (consumer to consumer) models. Thus, the correct answer is 'E-commerce between companies'.

What is the main disadvantage of E-commerce?

• Lack of personal interaction

• Increased customer satisfaction

• Wider product selection

• Lower operational costs

Answer explanation

The main disadvantage of E-commerce is the lack of personal interaction, which can lead to a less personalized shopping experience compared to traditional retail.

What does C2C E-Commerce refer to?

• Commerce between companies

• Commerce between consumers

• Commerce between government and consumers

• Commerce between businesses and consumers

Answer explanation

C2C E-Commerce refers to commerce between consumers, where individuals sell products or services directly to other individuals, typically through online platforms. This distinguishes it from other forms of commerce.

What is the process of E-commerce?

Answer explanation

E-commerce involves buying and selling goods or services online. The process includes product selection, payment processing, order fulfillment, and delivery, all facilitated through digital platforms.

What are the features of E-commerce?

Answer explanation

E-commerce features include online shopping, electronic payments, product catalogs, customer reviews, and order tracking, enabling convenient and efficient transactions over the internet.

What is the difference between Traditional Commerce and E-Commerce?

Answer explanation

Traditional Commerce involves physical stores and face-to-face transactions, while E-Commerce refers to buying and selling goods online. E-Commerce offers convenience and a wider reach compared to the limitations of Traditional Commerce.

What are the applications of E-commerce?

Answer explanation

E-commerce applications include online retail, digital marketplaces, electronic payments, and supply chain management, enabling businesses to reach customers globally, streamline operations, and enhance customer experiences.

What are the advantages of E-commerce to consumers?

Answer explanation

E-commerce offers consumers convenience, a wider selection of products, competitive pricing, and the ability to shop anytime and anywhere, enhancing the overall shopping experience.