E-commerce and Online Banking Overview

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Questions and Answers

What is the primary function of e-commerce?

To facilitate in-person transactions

To limit customer access to products

To connect sellers with customers for online exchanges (correct)

To sell products exclusively through physical stores

Which step is NOT part of the general e-commerce process?

The seller meets the customer in person (correct)

The customer places an order

The seller ships the products

A payment processor enables the exchange

How does online banking primarily function?

By utilizing paper checks only

By requiring in-person visits to the bank

By allowing users to access bank accounts online (correct)

By limiting access to mobile devices only

What type of transactions can be performed using an ATM?

Bill payments and fund transfers Signup and view all the answers

Which of the following is a method of enabling payment in e-commerce?

PayPal and digital currencies Signup and view all the answers

What is a common feature of online banking applications?

Access through the bank's website or app Signup and view all the answers

Which of the following statements about ATMs is true?

They can perform balance inquiries Signup and view all the answers

What is generally the first step in the e-commerce process?

The seller promotes products for sale Signup and view all the answers

What is the first step you should take when troubleshooting a computer problem?

Figure out which part of the system is malfunctioning Signup and view all the answers

Which of the following accurately describes narrow AI?

AI designed for specific tasks like language translation Signup and view all the answers

What is an essential benefit of backing up important files?

It ensures that information is safe if problems arise Signup and view all the answers

Which of the following is NOT an example of a malfunctioning component of a computer?

New hardware that operates correctly Signup and view all the answers

What is the main aim of General AI?

To replicate human intelligence across various domains Signup and view all the answers

What type of AI uses machine learning algorithms to recognize patterns?

Narrow AI Signup and view all the answers

Which of these statements best describes the role of AI in healthcare?

AI helps in analyzing medical images for improved diagnosis. Signup and view all the answers

What is the purpose of isolating a problem during troubleshooting?

To resolve the issue quickly Signup and view all the answers

Study Notes

E-commerce

E-commerce is the exchange of goods & services online
Businesses can only sell online with e-commerce or use it for additional sales
E-commerce connects sellers & customers, allowing purchases to be made online
E-commerce can be done in many different ways including websites & social media
Once a purchase is made, payment is made through a payment processor

Online Banking

Online banking allows you to access bank accounts through the internet
Online banking can be done through websites, desktop apps, and mobile apps
You can often access limited business banking through smartwatches

ATMs (Automated Teller Machines)

ATMs are machines that allow users to perform financial transactions without a banker
Common ATM locations are banks, shopping centers, airports, and other public places
Common uses include cash withdrawals, balance inquiries, bill payments, and fund transfers

ATM Key Functions

Cash Withdrawal: Users insert their card, enter their PIN and amount they wish to withdraw
Balance Inquiries: Users can check their account balance

Computer Troubleshooting

Troubleshooting involves identifying and resolving computer problems.
Even with updated software and hardware, computers can experience malfunctions.
Start by pinpointing the specific component or system causing the problem.
Examine each computer component unless the issue is obvious.
Isolating the problem speeds up the troubleshooting process.
Learning keyboard shortcuts can save time and effort.
Regularly back up important files to protect against data loss in case of irrecoverable problems.

Common Computer Problems

Frozen computer.
Unresponsive program.
Non-functional keyboard.
Incorrectly working new hardware or software.
Non-functional mouse.
Slow computer performance.
Unexpected change in browser’s homepage.

Artificial Intelligence

AI research began in the 1950s with the goal of creating machines that could mimic human thought and reasoning.
AI enables computers to think, learn, and simulate human cognitive processes like learning, problem-solving, and decision-making.
It can autonomously perform complex tasks that previously required human intervention.
AI is rapidly evolving and transforming various aspects of daily life and work.
Examples of AI applications include virtual assistants like Siri and Alexa, self-driving cars, and advanced medical imaging systems.

Types of AI

Narrow AI: Designed for specific tasks or problems, like image recognition or language translation. Trained on large datasets to recognize patterns and make predictions.
General AI: Aims to emulate human intelligence across diverse domains, including reasoning, perception, and creativity.

AI Applications

Healthcare: AI assists with disease diagnosis and treatment through analysis of medical images and patient data.
Finance: AI analyzes market trends and supports investment decisions.
Transportation: AI optimizes traffic flow and enhances road safety.

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Description

Explore the world of e-commerce and online banking in this quiz. Learn how businesses use online platforms for sales and the various functions of automated teller machines (ATMs). Test your knowledge on these critical components of modern financial transactions.