E-Commerce: Understanding the Basics

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the definition of e-commerce?

The exchange of physical goods in a physical store

The transfer of money from one account to another using a paper check

The sharing of information between organizations using paper-based systems

The buying and selling of products or services over electronic systems (correct)

Which technology is used for the structured transmission of data between organizations by electronic means?

Electronic Data Interchange (EDI) (correct)

Telephone banking

Automated Teller Machines (ATM)

Electronic Funds Transfer (EFT)

What is Electronic Funds Transfer (EFT) primarily used for?

The structured transmission of data between organizations by electronic means

The exchange of physical goods in a physical store

The buying and selling of products or services over electronic systems

The electronic exchange or transfer of money from one account to another (correct)

Which example is a form of electronic commerce in the 1980s?

Airline reservation systems like Sabre in the USA and Travicom in the UK Signup and view all the answers

What technology facilitated the growth and acceptance of credit cards and ATM in the 1980s?

Electronic Data Interchange (EDI) Signup and view all the answers

What is the primary focus of e-commerce?

Buying and selling of products or services over electronic systems Signup and view all the answers

Which technology is used for the structured transmission of data between organizations by electronic means?

Electronic Data Interchange (EDI) Signup and view all the answers

What is the main purpose of Electronic Funds Transfer (EFT)?

Transfer money from one account to another Signup and view all the answers

What was a significant form of electronic commerce in the 1980s?

Airline reservation system Signup and view all the answers

What was identified as the facilitation of commercial transactions electronically?

Electronic Data Interchange (EDI) Signup and view all the answers

What is the primary focus of EDI (Electronic Data Interchange)?

Structured transmission of data between organizations by electronic means Signup and view all the answers

Which technology is NOT associated with the growth and acceptance of electronic commerce in the 1980s?

Satellite communication Signup and view all the answers

What is the main purpose of Electronic Funds Transfer (EFT)?

Exchange or transfer of money from one account to another Signup and view all the answers

What technology is NOT a form of electronic commerce in the 1980s?

World Wide Web Signup and view all the answers

What was a significant technology used for facilitating commercial transactions electronically?

Electronic Data Interchange (EDI) Signup and view all the answers

Study Notes

E-commerce Definition and Overview

E-commerce is the facilitation of commercial transactions electronically.

Electronic Data Interchange (EDI)

EDI is a technology used for the structured transmission of data between organizations by electronic means.
The primary focus of EDI is to facilitate the structured transmission of data between organizations electronically.

Electronic Funds Transfer (EFT)

EFT is primarily used for the transfer of funds between organizations electronically.
The main purpose of EFT is to transfer funds electronically.

Development of E-commerce

In the 1980s, a significant form of electronic commerce was the use of Electronic Funds Transfer (EFT).
The technology that facilitated the growth and acceptance of credit cards and ATM in the 1980s was Electronic Funds Transfer (EFT).

Technology and E-commerce

Not associated with the growth and acceptance of electronic commerce in the 1980s is the Internet.
A significant technology used for facilitating commercial transactions electronically is Electronic Data Interchange (EDI).
The Internet is not a form of electronic commerce in the 1980s.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Test your knowledge of e-commerce with this quiz. Learn about the buying and selling of products or services over electronic systems, such as the Internet and other computer networks, and the technologies involved, such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT).