Final answer:
The term applied to the efforts of individuals to produce and sell products and services that satisfy societal needs through the Internet is e-commerce.
Step-by-step explanation:
The term applied to the efforts of individuals to produce and sell products and services that satisfy societal needs through the Internet is e-commerce. E-commerce refers to the buying and selling of goods and services over the internet. It involves online shopping, online banking, electronic payments, and other activities that enable individuals and businesses to engage in commercial transactions through the internet.
E-commerce has revolutionized the way business is conducted, allowing individuals and companies to reach a larger customer base and operate on a global scale. Examples of e-commerce platforms include Amazon, eBay, and Alibaba, where sellers can offer their products and services to customers worldwide.
With the continuous advancements in technology and the internet, e-commerce has become a major force in the business world, providing convenience, accessibility, and opportunities for entrepreneurs to thrive.