Final answer:
Lower prices and greater searchability are benefits of B2C E-Commerce, but the ability to touch, feel, and smell products is not applicable to online shopping. Also, while fast download speeds support online transactions, they are not a direct benefit of E-Commerce itself. Overall, consumers and businesses benefit from the expansion of B2C E-Commerce through lower prices and better products.
Step-by-step explanation:
The statement is partially true and partially false. Lower prices and greater searchability are indeed benefits of B2C E-Commerce. However, the ability to touch, feel, and smell products is not a benefit of online shopping as it is not possible to physically interact with a product before purchasing it online. Fast download speeds, while beneficial in enhancing the online shopping experience, are not directly related to the benefits of B2C E-Commerce, but rather a factor that supports its efficacy.
When defining markets in recent decades, we have seen a shift towards technology and globalization. These shifts interconnect and are exemplified by the growth of E-Commerce. This advancement in communication technologies makes it possible for consumers to purchase products from all over the world. Consequently, there is increased competition and markets are more broadly defined, benefiting consumers with lower prices and a larger variety of goods.
Businesses that provide better or less expensive products through B2C E-Commerce can increase their profits, and their employees can potentially earn more income, aligning with the assertion that on balance, the gains from E-Commerce outweigh the losses to a nation.