Final answer:
E-commerce is the term used to describe the buying and selling of goods and services over the Internet, which has expanded due to advancements in technology and globalization.
Step-by-step explanation:
Surfing the Net for goods has led to a new term in technology for accessing goods and services called e-commerce. This encompasses a wide range of online commercial activities for products and services. The rapid advancement in communications technologies, including the Internet, has enabled consumers to purchase everything from books to pet supplies from anywhere in the world, thus increasing competition for local businesses. Furthermore, the market for business supplies has also embraced these changes with business-to-business websites fostering connections between buyers and suppliers globally. This is part of a broader shift towards an information economy where technology and globalization are altering how markets are defined and how commerce is conducted.
The term coined for accessing goods and services on the internet is e-commerce. E-commerce refers to the buying and selling of goods and services over the internet. It has become increasingly popular and convenient for consumers, allowing them to purchase a wide range of products online, from books to pet supplies to flowers for friends in different cities. E-commerce has revolutionized the way we shop and has significantly expanded the reach of businesses beyond local markets.