Electronic commerc

ELECTRONIC  COMMERCE

Electronic  commerce  refers  to  business   activities  like  selling  and  purchasing  of  products  and  services  carried  out  over  electronic  systems like  the  internet  and  computer  networks. But  like  any  conventional business, electronic commerce is also characterized by some  advantages andv drawbacks.

The most important advantage of e-commerce is that it enables a business or individual to reach the global market. It caters to the demands  of both the national and the international market , as business activities are no longer restricted by geographical boundaries . time restrictions are nonexistent , as e-commerce empowers one to execute business transactions round the clock a day and even on holidays and weekends . this in turn significantly increases sales and profit .

Electronic commerce gives the customers the opportunity to look for cheaper  and quality products. Consumers  can easily  carry  research  on  a  specific  product  and  sometimes  even  find out  the  original manufacturer  to  purchase  a  product  at  a  much  cheaper  price  than  that  charged  by the wholesaler.online  commerce  also  offers  buyers  a  wider  range  of  products  and  services  to  choose  from,  without  the  hassles  of  lugging  around  heavy  shopping  bags  and  getting  stuck  in  messy  traffic jams,  which  turns  out  to  be  more  convenient  and  time-saving.

One  important  disadvantage  of  e-commerce  is  that  a  large  number  of  people  do  not  use  the  internet  for  financial  transaction.  Some  people  simply  refuse  to  trust  the  authenticity  of  completely impersonal  business  transactions.  Many  people  have  reservations  regarding  the  requierement  to disclose  personal  and  private  information for  security concerns.

Another limitation of e-commerce is that it is not suitable  for perishable commodities like food times. People prefer to shop in the conventional way than to use e-commerce for purchasing foods products and objects that need to be felt and touched before actually making the purchase.

Text 1: role of transport in economic development

It is generally accepted that if individuals , communities or societies specialize in terms of production and engage in trade ,this will result in more economic development  and therefore the well-being of the society as a whole increases . such gains in specialization between two or more countries can be realized only if there is increased trade providing each country with a larger market for its products . the importance of transport lies in  providing faster , safer and more reliable movement of goods order to make it possible for more trade to take place for this specialization , to occur . further , increases in specialization and efficiency gains realized through economies of scale can be constrained by the size of the market ; however, transport can play a role in  extending the market . thus , transport enables trade to take place in a larger scale, it allows for increased specialization , improved productivity and greater efficiency , resulting in the promotion of economic development .

...