Buying or selling goods over the Internet is called:
A) e-commerce.
B) e-business.
C) an intranet.
D) an extranet.
The correct answer and explanation is :
The correct answer is:
A) e-commerce.
Explanation:
E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the internet. It encompasses various online transactions, including business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), and consumer-to-business (C2B). The rise of the internet and digital technologies has transformed traditional commerce by enabling businesses and individuals to conduct transactions online without physical interaction.
E-commerce involves multiple processes, such as online product listings, digital payments, order processing, shipment tracking, and customer service. Popular platforms like Amazon, eBay, and Shopify provide businesses and consumers with easy access to a global marketplace.
There are several key benefits of e-commerce:
- Convenience – Buyers can shop from anywhere at any time without visiting a physical store.
- Wider Reach – Businesses can reach a global audience, breaking geographical limitations.
- Cost Efficiency – Online stores reduce operational costs compared to traditional brick-and-mortar stores.
- Personalization – Businesses can use data analytics to tailor product recommendations for customers.
- Diverse Payment Options – Online stores accept multiple payment methods, including credit/debit cards, digital wallets, and cryptocurrencies.
Explanation of Incorrect Options:
- B) E-business refers to all aspects of running an online business, including e-commerce but also covering online marketing, customer support, and business operations.
- C) Intranet is a private network used within an organization for internal communication and data sharing.
- D) Extranet extends an intranet to allow controlled access for external users, such as suppliers and partners.
Thus, the most accurate term for buying and selling goods over the internet is e-commerce.