Short Questions of E-commerce

 E-Commerce

Short Questions Answer of E-Commerce

1. What is e-commerce? List examples of e-commerce.

Ans: E-commerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.

Following are the some examples of e-commerce.

i) WWW. amazon.com

ii) WWW. eBay.com

iii) WWW.Snapdeal.com

iv) WWW.Daraz.com

v) WWW.Hamrobazar.com

 

2)  List the benefits and limitation of e-commerce.

Ans: Benefits of e-commerce are as follows.

i) Easy to Set Up

ii) Global Market

iii) Quick Delivery

iv) Lower Transaction Cost and Higher Margin

v) Saving of Time and Effort

vi) 24×7 Working

vii) Wider Choice

viii) Direct Contact between Business and Consumer

Limitation of e-commerce

i) High Start-Up Costs

ii) Lack of Technical Knowledge

iii) Lack of Personal Touch

iv) Security problem

v) Legal issues

vi) System and Data Integrity

 

3)  Explain the different types of e-commerce with examples.

Ans: Following are the different types of e-commerce.

Business to Business (B2B):

 It  is an E-commerce transaction that one business does with another business.

For example,  B2B is retailor buys from wholesaler. 

Business to Consumer (B2C) :

B2C are transactions that sell directly to final users.

For example, when a store like, Daraz or Amazon sells to a consumer, it is a B2C transaction.

Consumer to Consumer (C2C) :

C2C are transactions between consumers.

For example, if I sell my Smartphone to a private individual online, that is a C2C              transaction..

Government to Business (G2B):

G2B are transactions in which the government pays a business.

For example,  If the government  pays a company for a software update, that is a G2B transaction.

Business to Government (B2G) :

B2G transactions occur when a business pays the government.

For example, This may occur when a business renews a license or pays government fees online.

Consumer to Government (C2G) :

C2G transactions occur when individual people pay the government.

For Example, If I pay my parking fine online, that is a C2G transaction.

 

4)  List the application area of e-commerce.

Ans: Following are the application areas of e-commerce.

i) Online marketing and purchasing

ii) Retail and wholesale

iii) Finance

iv) Manufacturing

v) Online Auction

vi) E-Banking

vii) Online publishing

viii) Online booking (ticket, seat.etc)

 

5) What do you mean by M-commerce?

Ans: M-Commerce also known as as Mobile Commerce. It is a transactions which are done through the wireless devices such as  smart phone, laptop, palmtop, tablet, or any other Personal Digital Assistant (PDA). Mobile e-commerce is just one of the many subsets of electronic commerce.

 

6) Write the advantages and disadvantages of M-commerce.

Ans: Following are the advantages and disadvantages of m-commerce.

Advantages:

i) Increase in Productivity

ii) Entertainment

iii) Portability

iv) Cloud Computing

v) Cover wild distance

vi) Location Tracking

vii) Personal touch

 

Disadvantages:

i) Quality of connectivity

ii) Security concerns

iii) Security

iv) Lack of Services in Rural Areas

v) Power Consumption

 

7) What is online payment? Give some examples of online payment organizations.

Ans: An online payment  system is a way of making transactions or paying for goods and services through an electronic medium and internet, without the use of checks or cash

Following are the some examples of online payment third party organizations.

i) e-Sewa

ii) Khalti

iii) PayPal

iv) Click2Pay

 

8) Explain the different types of online payment methods.

Ans: Following are the different types of online payment methods.

i. Credit Payment System

Credit Card :

It is a type of electronic payment in the form of card issued by an financial institution for making payment online without using cash transactions. 

E-wallet

A form of prepaid account that stores user’s financial data, like debit and credit card information to make an online transaction easier.

Smart card

A plastic card with a microprocessor that can be loaded with funds to make transactions; also known as a chip card.

ii. Cash Payment System

Electronic Funds Transfer (EFT): this is an electronic system used to transfer money from one bank account to another without any cash exchange by hand.

EFT comprises many other concepts of payment system include:

Direct debit

Direct debit is an instruction fo the account holder to your bank to collect a 

 A financial transaction in which the account holder instructs the bank to collect a specific amount of money from his account electronically to pay for goods or services.

E-check

E-check is a digital form of an paper check. It transfer money electronically from bank account without the use of old form of paper check.

E-cash

E-cash is known as electronic cash. It is the method of paying for goods and services  without using physicals cash. 

Stored-value card 

A card with a certain amount of money that can be used to perform the transaction in the issuer store. A typical example of stored-value cards are gift cards.

iii. Biometric Payments

Biometric payments is a point-of-sale (POS) technology that uses biometric authentication based on physical characteristics to identify users and enable withdrawal of funds from bank accounts.

 

9) What do you meant by plastic money? Give some examples of plastic money.

Ans: Plastic money is a term mainly used for the hard plastic cards we use everyday, not real banknotes. Examples of plastic money are: cash cards, credit cards, debit cards, pre-paid cash cards and store cards.

 

10) Define Credit and Debit card.

Credit Cards:

A credit card is a card issued by a financial institution, typically a bank, and it enables the cardholder to borrow funds from that institution. Cardholders agree to pay the money back, with interest, according to the institution's terms.

Debit Cards

A debit card is a payment card that makes payments by directly debiting money from a consumer's checking account rather than by borrowing from a bank.

 

11) Define is e-wallet.

Ans: E-wallet is a type of e-card that is used for online transactions via a computer or smartphone. With the help of e-wallet we can make payment for online purchase, tickets, reservation etc.