Electronic Commerce

Electronic Commerce The last decade has seen the rise of many new technological developments, one of the most prominent of these developments has been the internet. The Internet has already managed to weave itself into our daily lives where we use it for the simple communication of e-mail or to retrieving large volumes of information. More recently the Internet has been incorporated into businesses which have ranged from 'online' grocers to travel agents and real …

…home or at non-standard business hours. The capability of online stores to sell their products to consumers throughout the world will decrease trade barriers and result in increased trade. The increased price transparency offered by the Internets capability to check the prices of thousands of items simultaneously would allow consumers to have a much larger knowledge base before making a decision. This would also increase competition between various online firms dramatically causing large price drops.