What is e-commerce?

What is e-commerce?

• A. Retail management in physical stores
• B. The buying and selling of goods and services over the internet
• C. The process of conducting market research
• D. The activity of delivering product warranties

Answer: (B)

E-commerce refers specifically to the buying and selling of goods and services over the internet. This encompasses a wide variety of transactions, including those conducted through online retail websites, online marketplaces, and digital platforms that facilitate trade. It has grown significantly with advancements in technology and the increasing use of the internet for personal and business purposes. The definition of e-commerce illustrates its core function—conducting sales and purchases electronically, which distinguishes it from traditional retail environments where transactions occur in physical stores. Furthermore, e-commerce includes not only retail sales but also services rendered online, ranging from subscription services to virtual consultations. The other choices focus on different aspects of business practices. For instance, retail management in physical stores pertains to overseeing sales and operations in brick-and-mortar locations but does not encompass online sales. Conducting market research is a preparatory activity often used to understand consumer behavior and preferences but is not a transaction of goods or services itself. Lastly, delivering product warranties involves after-sales support for purchased items, which does not directly relate to the concept of e-commerce.

E-commerce refers specifically to the buying and selling of goods and services over the internet. This encompasses a wide variety of transactions, including those conducted through online retail websites, online marketplaces, and digital platforms that facilitate trade. It has grown significantly with advancements in technology and the increasing use of the internet for personal and business purposes.

The definition of e-commerce illustrates its core function—conducting sales and purchases electronically, which distinguishes it from traditional retail environments where transactions occur in physical stores. Furthermore, e-commerce includes not only retail sales but also services rendered online, ranging from subscription services to virtual consultations.

The other choices focus on different aspects of business practices. For instance, retail management in physical stores pertains to overseeing sales and operations in brick-and-mortar locations but does not encompass online sales. Conducting market research is a preparatory activity often used to understand consumer behavior and preferences but is not a transaction of goods or services itself. Lastly, delivering product warranties involves after-sales support for purchased items, which does not directly relate to the concept of e-commerce.