Understanding Commerce Basics
15 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary reason for a buyer to return a product to a seller?

  • To receive a refund
  • To upgrade to a newer version
  • Because the product has a defect (correct)
  • To exchange it for a different product
  • In e-commerce, what is the term used to refer to the place where companies exist virtually on the Web?

  • Cyber Commerce
  • Marketplace
  • Market Space (correct)
  • Virtual Market
  • What is the common mode of payment used in most e-commerce transactions?

  • PayPal
  • Cash on Delivery (COD)
  • Credit Cards (correct)
  • Bank Transfer
  • How can buyers inform a seller about their intention to purchase in e-commerce?

    <p>By submitting an online form</p> Signup and view all the answers

    What is the role of buyers in commerce?

    <p>Paying for products and services</p> Signup and view all the answers

    What is essential for a commercial transaction to occur?

    <p>Product or service</p> Signup and view all the answers

    Which element of commerce involves meeting the needs and wants of consumers?

    <p>Marketing</p> Signup and view all the answers

    What is the purpose of the ordering facility in commerce?

    <p>Letting sellers know about a buyer's intention to buy</p> Signup and view all the answers

    How can payments be made for products or services in commerce?

    <p>In cash or via credit cards</p> Signup and view all the answers

    What is one benefit of e-commerce for sellers in terms of costs?

    <p>Lower maintenance costs due to automation</p> Signup and view all the answers

    How does e-commerce contribute to better customer relations?

    <p>By providing prompt order status updates via e-mail</p> Signup and view all the answers

    What allows sellers in e-commerce to display a wide range of products?

    <p>Automated processes</p> Signup and view all the answers

    Why are transactions in e-commerce quicker compared to traditional businesses?

    <p>Less paperwork and automation</p> Signup and view all the answers

    What is a key advantage of e-commerce for buyers in terms of convenience?

    <p>Shopping from the comfort of their homes anytime</p> Signup and view all the answers

    How does e-commerce contribute to cost savings for sellers and eventually lower prices for buyers?

    <p>Through automation leading to lower transaction costs</p> Signup and view all the answers

    More Like This

    Business Trade and Commerce Quiz
    6 questions
    Commerce and Trade Overview
    10 questions

    Commerce and Trade Overview

    SteadfastMulberryTree avatar
    SteadfastMulberryTree
    Global Commerce and Cultural Exchange
    10 questions
    E-commerce
    35 questions

    E-commerce

    ComfortableHeliotrope8108 avatar
    ComfortableHeliotrope8108
    Use Quizgecko on...
    Browser
    Browser