The dimension of e-commerce that enables commerce across national boundaries is called _. ?
The correct answer and explanation is :
The dimension of e-commerce that enables commerce across national boundaries is called “Global E-commerce.”
Explanation:
Global e-commerce refers to the ability of businesses and consumers to engage in electronic transactions beyond their local borders. It is an important aspect of e-commerce, as it expands the market reach for companies, enabling them to sell products or services to international customers. The key factors that define and enable global e-commerce are technology, logistics, digital payments, and international regulations.
1. Technology: The internet and technological advancements have broken down the barriers of distance and time. E-commerce platforms like Amazon, eBay, Alibaba, and Shopify provide a digital marketplace that allows sellers and buyers from different parts of the world to engage in trade seamlessly.
2. Logistics: Modern logistics infrastructure, such as advanced shipping methods, international freight services, and real-time tracking systems, has made it easier to deliver goods across countries. International shipping has become faster, more efficient, and more affordable, making cross-border trade more viable for businesses of all sizes.
3. Digital Payments: One of the critical aspects of global e-commerce is secure and efficient digital payment systems. Payment gateways like PayPal, Stripe, and digital wallets enable international transactions in multiple currencies. These platforms provide a secure way to exchange money across countries, addressing the complexities of currency exchange, international regulations, and fraud prevention.
4. International Regulations: Global e-commerce is also shaped by various trade regulations, tariffs, taxes, and customs procedures, which vary from one country to another. Understanding these regulatory frameworks is essential for businesses that want to operate internationally, and e-commerce companies must comply with them to avoid legal issues.
In conclusion, global e-commerce enables businesses to transcend geographical limitations and tap into international markets, making it a vital dimension of modern commerce.
Here is an illustration representing the concept of global e-commerce, showing the interconnectedness of international trade, online shopping, digital payments, and international shipping across various regions of the world.