University of Central Florida (UCF) GEB3375 Intro to International Business Practice Exam 2

E-commerce refers specifically to the buying and selling of goods and services over the internet on a global scale. This definition encompasses a vast range of activities that take place online, including retail transactions, business-to-business exchanges, and services provided through digital platforms. The defining characteristic of e-commerce is its reliance on the internet to facilitate not only transactions but also communication, marketing, and customer service across international borders.

The other choices do not accurately describe e-commerce. For instance, currency exchange between countries is a financial process unrelated to buying or selling goods and services online. Negotiating trade agreements involves diplomatic and business strategies rather than direct commercial transactions via the internet. Lastly, conducting in-person sales internationally does not involve e-commerce, as this pertains to physical interactions rather than online transactions. Thus, the definition of e-commerce as the online buying and selling of goods and services captures its essence and significance in international business.