Digital Economy Overview

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Questions and Answers

What is the definition of an electronic contract?

An electronic contract is an agreement that is made and executed electronically.

What is a Browsewrap Agreement?

Browsewrap Agreement is a sort of agreement or contract where a user agrees to the terms of service by using a website, app, or software.

What are the requirements for an electronic contract to be legally binding in Algeria?

The requirements for an electronic contract to be legally binding in Algeria include obtaining a business license, having a dedicated website with a .dz.com domain name, ensuring the website's authenticity, and providing a means for a legally binding electronic contract.

What are the key elements to consider when choosing a platform for building an e-commerce website?

Security and data protection Signup and view all the answers

Which of the following is NOT a feature of an e-commerce platform that contributes to its effectiveness?

Limited product catalog with minimal options Signup and view all the answers

What is the main objective of the e-commerce industry?

The primary objective of the e-commerce industry is to provide a seamless and convenient online shopping experience for customers, enabling them to purchase goods and services online without the need for physical interaction. Signup and view all the answers

The use of e-commerce has a significant impact on the way businesses operate.

True Signup and view all the answers

E-commerce has significantly decreased the need for physical retail outlets.

False Signup and view all the answers

Mobile optimization for e-commerce websites is essential for success in today's market.

True Signup and view all the answers

Which of the following payment gateways is commonly used in the e-commerce industry?

All of the above Signup and view all the answers

What are some of the benefits of using an electronic signature for contracts?

Benefits of electronic signatures include convenience, cost-effectiveness, increased efficiency in processes, reduced paper usage, and environmental sustainability through reduced paper waste, which is a significant environmental benefit. Signup and view all the answers

What are the main characteristics of the electronic contract in Saudi Arabia?

The electronic contract in Saudi Arabia is characterized by its speed, the use of electronic intermediaries, and the absence of direct interaction between the parties involved. Signup and view all the answers

What are the essential elements that should be included in an electronic contract in the UAE?

Essential elements in an electronic contract in the UAE include clear identification of the parties involved, a precise description of the subject matter of the contract, the terms and conditions, specific obligations for each party, any applicable deadlines, methods for dispute resolution, and the date and place of execution. Signup and view all the answers

Study Notes

Digital Economy

This is a study of digital economy, specifically focusing on the creation of online stores, electronic contracts, and electronic signatures, and their future prospects.
The study is presented by Dr. Masoudi Kheira from the Faculty of Economics and Management, University of El-Oghout.

Online Store Creation

The process begins with selecting a suitable location and identifying the target audience.
Product type and presentation should be considered.
Decide on a brand name and company identity.
Register the business.
Choosing an e-commerce platform is an important step.
Develop and refine the online store.
Promote the store to the world.

Electronic Store Costs

The cost of creating an online store depends on numerous factors.
A custom designed store will significantly increase cost and duration (up to 3 months or longer), requiring consistent interaction with professional developers, costing at least $100 but potentially tens of thousands of dollars.
Pre-built templates on platforms like Multi Cart offer a more cost-effective and faster option to create an online store.

Factors Affecting Online Store Costs

Design: Custom design increases costs compared to using templates.
Functionality: Complex features like inventory management, shopping carts, and order tracking increase costs.
Website Hosting Services: Cost varies depending on aspects such as storage and resource requirements.
Payment and Shipping Integration: Integrating payment gateways and shipping services can add to the overall cost. This can be more expensive on sites designed from scratch; however, pre-built sites often handle this integration.
Marketing: Marketing campaigns to attract customers can increase the costs.

Electronic Store Features

The presentation highlights the features of an electronic store, including the functionality to manage products, manage brands, choose branding, shipping and payment integration, and adjusting prices.
Proper setup of payment and delivery options is highlighted.
The presentation also covers the importance of responsive design (adapting to various devices) and SEO (search engine optimization) for making the store visible on search engines, as well as how to register the business, and manage different languages.

Electronic Contracts

Electronic contracts are agreements established, executed, and monitored electronically, with legal requirements and implications.
They are used to replace traditional paper-based contracts.
They facilitate, secure, and store digital agreements/documents.

Electronic Signatures

The study outlines the concept of electronic signatures and their legal implications.

Creating an Electronic Store for a Business in Algeria

The presentation discusses steps to create an online store in Algeria, emphasizing the importance of understanding local market demands and governmental regulations.
Emphasizing the importance of a unique and engaging brand identity.
Highlights the necessity of complying with government regulations and standards for businesses operating in the country.
Choosing payment options such as international credit cards, local money transfers, and cryptocurrencies should be explored and integrated into the design.

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Description

This quiz explores key concepts in the digital economy, including the creation of online stores, electronic contracts, and electronic signatures. It highlights the steps involved in setting up an online store, along with considerations for costs and branding.