as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the concept of e-commerce.
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e-commerce is the buying and selling of goods and services over the internet. it involves the use of electronic payment systems and digital marketplace platforms to conduct business. e-commerce allows businesses to reach and serve their customers, regardless of geographical location. consumers can purchase goods online, while businesses can sell their products to a wider audience. it also enables businesses to reduce their cost of operation by eliminating physical stores and reducing the need for manual paperwork. e-commerce is becoming increasingly popular with the emergence of technologies like mobile computing and increased internet penetration.
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