Final answer:
E-commerce is the term for buying and selling goods or services using the internet, with the process being facilitated by technological advancements and globalization. It allows consumers worldwide to participate in a global market, purchasing a wide range of products and services online.
Step-by-step explanation:
Anyone with access to a computer, an Internet connection, and a means to pay for purchased goods or services can participate in e-commerce. The term refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. The web has evolved from a space of passive content consumption to an interactive marketplace, where consumers can purchase a variety of goods and services, ranging from digital content like music and videos on platforms like iTunes and Netflix to physical goods on e-commerce sites such as Amazon.
This shift has been facilitated by technological advancements and the process of globalization, which allows consumers to participate in an interconnected, global market. For example, ordering flowers over the internet for a friend in a different city exemplifies how the internet enables commerce and connectivity across distances.