Impact of Digital Technology on Everyday Life

These flashcards cover key concepts and details about e-commerce and online banking, including definitions, advantages, and disadvantages.

What is e-commerce?

E-commerce is the buying and selling of products and services over the internet.

What protocol do most e-commerce transactions use?

E-commerce often makes use of the HTTPS protocol.

Why is selling through websites considered the fastest growing method of trading?

Because it allows for global access to customers and enables competition among businesses.

What are some advantages of e-commerce?

Access to global markets, customer reviews, reduced overhead costs, 24-hour commerce, and convenience.

What is a common disadvantage of e-commerce?

Lack of personal touch and inability to experience products before purchase.

What is online banking?

Online banking provides a convenient method for customers to conduct banking tasks from home using a secure internet connection.

What must customers do to access their online bank accounts?

Customers must register their details with the bank and log in using a username and password.

List some services offered by online banking.

Check bank balance, view statements, pay bills online, transfer money, set up new accounts, and use NFC apps.

What is one advantage of online banking for customers?

Transactions can be done anytime and anywhere with internet access.

What is a disadvantage of online banking for customers?

Concerns about fraud and a lack of human interaction.