What do we know about e-commerce?

The terms 'e-commerce' and 'e-business' are used interchangeably throughout the time. E-commerce or electronic commerce is a process of buying, selling, or exchanging products, services, or information via computer networks, whereas e-business or electronic business is a broader definition of e-commerce that includes not just buying, selling or exchanging products and services but also servicing customers, collaborating with business partners, and conducting electronic transactions within an organization.

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How does e-commerce applied in our daily lives?

• Communication - e-commerce is applied in which the delivery of products, services, information, and payments occurs over the internet. e-commerce is the framework for inter- and intraorganizational collaboration.
  
• Trading - in which e-commerce provides the capability of buying and selling products, services, and information worldwide over the internet.
• Service - e-commerce has also become a tool for governments, firms, consumers, and management to cut their service costs while improving the quality of customer service and increasing the speed of service delivery.
• Learning - e-commerce enable online training and education in schools, universities, and other organizations including businesses. Web-video conferencing through a website or chatting application tools like Skype, MSN, and Yahoo Messenger contribute a lot in online learning. More organizations are conducting 'webinar' (seminars by means of web-video conferencing) to save costs and broaden their prospects.
• Community - e-commerce provides a gathering place for community members to learn, transact and collaborate.