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What is e-commerce? Explain its role to enhance the digital economy.

What is e-commerce? Explain its role to enhance the digital economy.

E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.


 The digital economy is the worldwide network of economic activities, commercial transactions and professional interactions that are enabled by information and communications technologies (ICT). E commerce is vital to enhance the digital economy. It helps in the scaling of the businesses and the more businesses get to scale the bigger will be the digital economy of a country. E commerce allows companies to reach a wider audience while having lower operational costs. This attracts many businesses to expand digitally, which vitalizes the digital economy of a country. Also, Shopping from home is more convenient for the consumer and Consumers can easily comparison shop across different brands. There's a greater selection of goods available. This also attracts customers to buy and shop digitally which also helps to enhance digital economy of a country.

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