Final answer:
E-commerce is the term for online sales of goods and services, which has expanded due to advancements in technology and globalization. This has increased competition for local retailers and enabled business-to-business global interactions.
Step-by-step explanation:
The online sales of goods and services are known as e-commerce. E-commerce refers to the buying and selling of products and services over the internet or other electronic networks. This can include transactions between businesses (B2B), businesses and consumers (B2C), or even consumers themselves (C2C).
The online sales of goods and services are known as e-commerce. As the world has shifted towards technology and globalization, the concept of markets has drastically changed. With the rise of the internet, consumers have the convenience of ordering products from around the globe, increasing competition for local retailers. Additionally, business-to-business websites have emerged, enabling connections and transactions between business suppliers and buyers internationally. This level of easy accessibility and global reach is a significant aspect of e-commerce.