Describe the Different Types of E-Marketplaces

question 25

Essay

Describe the different types of e-marketplaces.

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Definitions:

Equilibrium

A state in an economy or market where supply equals demand, leading to a stable price.

Pinch Hitter

In baseball, a substitute batter who comes in to bat in place of another player; metaphorically, someone who steps in to handle a situation or task for someone else.

Player Substitutions

The act of replacing one player with another during a game, common in team sports, to adjust strategies or enhance performance.

Specialization

A process in which individuals, organizations, or countries focus on producing a limited range of goods or services, aiming to increase efficiency and expertise.