CHAPTER 1 ITEMS

Question 1

is defined as the exchange of goods and services between two or more entities physically.

Answer 1

COMMERCE

Question 2

• Refers to business transactions
  or information exchange, as well as buying and selling
  products from person to person.

Answer 2

Traditional Commerce

Question 3

• Traditional street-side business that offers goods and services to its customers face-to-face in
  an office or store that the business owns or rents.

Answer 3

Brick and Mortar

Question 4

The local grocery store and the corner bank are examples of
_______________ companies.

Answer 4

brick-and-mortar

Question 5

• companies and individuals that buy and sell goods and services over the internet using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT).

Answer 5

E-Commerce

Question 6

• includes buying and selling goods and services online.

Answer 6

Digital Commerce

Question 7

• Online selling is the act or process of selling products via an internet or mobile app, auction
  site, online classified advertisement, online shop, social
  networking, social media or web shop.

Answer 7

Online Selling

Question 8

is the structured transmission of
data between organizations by electronic means.

Answer 8

Electronic Data Interchange (EDI)

Question 9

It is used to transfer electronic documents or business data from one computer system to another computer system.

Answer 9

Electronic Data Interchange (EDI)

Question 10

is the electronic exchange or
transfer of money from one account to another.

Answer 10

Electronic Funds Transfer (EFT)

Question 11

E-commerce and E-business are __________, though they are closely
related.

Answer 11

different

Question 12

__________ refers to any business that applies internet technologies in its operation.

Answer 12

E-business

Question 13

Conducting all business operations using digital technology.

Answer 13

E-business

Question 14

on the other hand, is the process of buying and selling of goods and services online.

Answer 14

E-Commerce

Question 15

___________ refers to electronic trade that takes place between companies. Consumers are not involved.

Answer 15

B2B (Business to Business)

Question 16

Producers buying components from suppliers and manufacturers selling finished goods to distributors.

Answer 16

B2B (Business to Business)

Question 17

is the simplest and most recognizable form of e-commerce.

Answer 17

B2C (Business to Consumer)

Question 18

Direct trade between companies and consumers.

Answer 18

B2C (Business to Consumer)

Question 19

Online businesses sell goods and
services to the general public.

Answer 19

B2C (Business to Consumer)

Question 20

business model where individuals
(consumers) create value that businesses consume.

Answer 20

C2B (Consumer to business)

Question 21

Complete reversal of the traditional sense of exchanging goods.

Answer 21

C2B (Consumer to business)

Question 22

consumers are given a venue to trade among themselves.

Answer 22

C2C (Consumer to Consumer)

Question 23

It is not required to set up a proper
business to sell. Anybody can sell anything.

Answer 23

C2C (Consumer to Consumer)

Question 24

Mainly focuses on buying and selling goods or services between consumers.

Answer 24

C2C (Consumer to Consumer)

Question 25

decentralized exchange of goods, services, or information directly between individuals, without the involvement of a central authority or business intermediary. Often facilitated by digital platforms that connect users. Focus on sharing or lending resources, services, or data. Examples are riding app, lending app, etc.

Answer 25

P2P

Question 26

Businesses sell products through platforms like Shopee, Lazada, TikTok Shop, etc. The mode of selling is known as electronic retailing, or e-tailing.

Answer 26

ONLINE MARKETPLACES & STORES

Question 27

refers to the process of selling goods and services over the internet.

Answer 27

E-Tailing

Question 28

It is a major component of e-commerce and allows businesses to reach customers digitally rather than through physical stores.

Answer 28

E-Tailing

Question 29

E-commerce cannot work if there is no mechanism for making and accepting payments.

Answer 29

ELECTRONIC PAYMENTS

Question 30

Buying, selling, and conducting financial transactions through mobile devices like smartphones and tablets.

Answer 30

MOBILE COMMERCE (M-COMMERCE)

Question 31

It is a growing segment of e-commerce, enabling users to shop, pay bills, transfer money, and more through mobile apps and websites. Mobile-friendly apps for shopping like Shopee and Lazada

Answer 31

MOBILE COMMERCE (M-COMMERCE)

Question 32

is an order fulfillment method where the seller does not keep inventory.

Answer 32

Dropshipping

Question 33

Instead, when a customer makes a purchase, the order is sent to a third-party supplier who ships the product directly to the customer.

Answer 33

Dropshipping

Question 34

__________________ handle inventory storage, packing, and shipping on behalf of e-commerce businesses. Unlike dropshipping, sellers own the inventory but let a fulfillment center manage logistics.

Answer 34

Fulfillment Services

Question 35

refers to promoting goods or services using online channels

Answer 35

Digital marketing

Question 36

____________ ___________ focuses on building relationships with customers to increase loyalty and sales.

Answer 36

customer engagement

Question 37

Both are essential for e-commerce and online businesses.

Answer 37

DIGITAL MARKETING & CUSTOMER ENGAGEMENT

Question 38

BENEFITS OF E-COMMERCE ➢ - Sell to customers worldwide.

Answer 38

Global Reach

Question 39

BENEFITS OF E-COMMERCE ➢ - Use analytics to improve sales.

Answer 39

Data-Driven Decisions

Question 40

BENEFITS OF E-COMMERCE ➢ - No time restrictions for shopping.

Answer 40

24/7 Availability

Question 41

BENEFITS OF E-COMMERCE ➢ - Reduce expenses compared to physical stores.

Answer 41

Lower Costs