1. List 3 reasons why a payment system is important. 2. What is the fundamental difference between a transaction and commerce? 3. Complete the following table based on the types of business in each e-commerce space.Business to consumerAmazon.comi)Linkedin, Salesforceii)eBay, EtsyConsumer to businessiii)Business to administrationSt Lucia’s DigiGov platformConsumer to administrationiv)

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Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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1. List 3 reasons why a payment system is important.

2. What is the fundamental difference between a transaction and commerce?

3. Complete the following table based on the types of business in each e-commerce space.

Business to consumer	Amazon.com
i)	Linkedin, Salesforce
ii)	eBay, Etsy
Consumer to business	iii)
Business to administration	St Lucia’s DigiGov platform
Consumer to administration	iv)

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