E MARKET Meaning and
Definition
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The term "e-market" is a shortened form of "electronic market," which refers to an online or electronic platform or marketplace where buyers and sellers engage in commercial transactions. It is a digital ecosystem that facilitates the buying and selling of goods, services, or information over the internet.
Similarly to a traditional market, an e-market allows various participants to come together, interact, and conduct business, but in a virtual environment. These platforms often support multiple forms of transactions, including business-to-consumer (B2C), consumer-to-consumer (C2C), and business-to-business (B2B) transactions.
E-markets make use of various technologies such as websites, mobile applications, online advertisements, and online payment systems to enable transactions between buyers and sellers. They offer advantages like convenience, wider reach, lower operational costs, and increased accessibility compared to traditional markets.
E-markets can be specialized, focusing on specific industries or products, or they can be general, encompassing a broad range of goods and services. Examples of e-markets include e-commerce websites like Amazon and eBay, online travel booking platforms, and web-based platforms that connect freelancers with clients.
The continuous growth of the internet and advancements in technology have significantly contributed to the emergence and expansion of e-markets, revolutionizing the way businesses operate and consumers make purchases.
Etymology of E MARKET
The term "e-market" is a shortened form of "electronic market". The etymology of the word can be traced back to the combination of two words: "electronic" and "market".
The word "electronic" originates from the Greek word "elektron", meaning amber. In the late 19th century, it was first used to refer to the branch of scientific study related to the behavior and control of electrons. Over time, "electronic" came to represent anything pertaining to or operated by electronic devices.
The word "market" has its roots in Latin, specifically from the word "mercatus", which means a gathering for trade or buying and selling goods. This Latin term subsequently evolved into the Old English word "mearcet" and later became the Modern English "market".
