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Questions and Answers
Which term is used to describe the buying and selling of goods between a buyer and a seller?
Which term is used to describe the buying and selling of goods between a buyer and a seller?
- E-Business
- Internet
- Commerce (correct)
- E-Commerce
What is the main difference between E-Commerce and E-Business?
What is the main difference between E-Commerce and E-Business?
- E-Business involves online transactions, while E-Commerce involves all aspects of a business using the internet
- E-Commerce involves online transactions, while E-Business involves all aspects of a business using the internet
- There is no difference between E-Commerce and E-Business
- E-Commerce is a subset of E-Business (correct)
What are the advantages of E-Commerce?
What are the advantages of E-Commerce?
- Increased customer reach, higher costs, and inconvenience
- Decreased customer reach, lower costs, and convenience
- Increased customer reach, lower costs, and convenience (correct)
- Decreased customer reach, higher costs, and inconvenience
What are the disadvantages of E-Commerce?
What are the disadvantages of E-Commerce?
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What is the purpose of E-Commerce Models?
What is the purpose of E-Commerce Models?
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Study Notes
E-Commerce Terminology
- E-Commerce refers to the buying and selling of goods or services between a buyer and a seller through electronic means, typically over the internet.
Difference Between E-Commerce and E-Business
- E-Commerce focuses specifically on transactions involving the exchange of goods and services.
- E-Business encompasses a broader range of activities, including online transactions, supply chain management, customer service, and business processes that are digitized.
Advantages of E-Commerce
- Global Reach: Allows businesses to reach customers worldwide without geographical limitations.
- Lower Costs: Reduces operational costs such as rent and utilities associated with physical stores.
- Convenience: Enables 24/7 shopping, providing customers with the flexibility to shop anytime.
- Access to Data: Facilitates the collection and analysis of customer data for targeted marketing and personalized experiences.
Disadvantages of E-Commerce
- Security Risks: Vulnerability to cyber-attacks, fraud, and data breaches can compromise customer information.
- Dependence on Technology: Requires a stable internet connection and technical infrastructure, which can limit access in some areas.
- Lack of Personal Interaction: Reduces face-to-face customer service, potentially affecting customer satisfaction and loyalty.
- Complicated Returns and Refunds: Can complicate the process of returning products, leading to customer frustration.
Purpose of E-Commerce Models
- E-Commerce models are designed to streamline online business operations, cater to various customer needs, and optimize user experiences.
- They provide frameworks for different transaction types, such as B2C (business-to-consumer), B2B (business-to-business), C2C (consumer-to-consumer), and more.
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Description
Test your knowledge on the fundamentals of electronic commerce with this quiz. Learn about the key terms, differences between e-commerce and e-business, advantages and disadvantages of e-commerce, and various e-commerce models.
