Define Electronic Commerce and Identify Its Various Subsets

question 43

Essay

Define electronic commerce and identify its various subsets.

---

Definitions:

Fiscal Deficits

Happens when the expenses of a government surpass its income, not counting funds acquired through borrowing.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision to pursue a certain action.

Trade Agreements Act

Legislation aimed at fostering fair and open international trade by implementing tariff concessions and other trade-related provisions.

Dumping

The practice of exporting goods at a price lower than their normal value, often with the intention of undermining local markets or competitors.