business

1. ecis thebuyingand sellingof goods and services,or thetransmittingof funds or data,over an electronic network,
primarily the internet. 1B2B is a transaction that occurs between two companies, as opposed to a transaction
involving a consumer. The term may also describe a company that provides goods or services for another
company. Intel sellingmicroprocessors to Del. 2B2C is a type of commerce between companies and consumers
that involves customers gathering information, purchasing physical goods, or receiving products over an
electronic network. MacDonald’s sells burgers with ketchup. 3(B2E) refers to using an intra-business network
(commonly known as an ‘Intranet’) that allows companies to provide products and/or services to their
employees. An intranet is a website developed to provide employees of an organization with information on
onlineinsurancepolicy management.4B2Gis generally defined as commercebetween companies and thepublic
sector. It refers to the use of the Internet for public procurement, licensingprocedures,and other government-
related operations Businesses pay taxes, and file reports. 5C2B is a growing trend where consumers demand
specific products or services fromrespectivebusinesses by presentingthemselves as a buyer group. A consumer
posts his projectwith a set budget onlineand within hours companies reviewthe consumer's requirements and
bid on the project. 6C2C. It also refers to the onlinedealingof goods and services between people. This type of
transaction is fulfilled due to online market dealers like auction sites, becoming more and more popular
nowadays (for example eBay, OLX).
A computer network, or simply a network, is a collection of computers and other hardware interconnected by
communication channels that allow sharing of resources and information. For example, a network allows
computers to share files, users to message each other, etc. Types of Networks 1(LAN) is a network that is
confined to a relatively small area. It is generally limited to a geographic area such as a writing lab, school, or
building.Computers connected to a network are broadly categorized as servers or workstations.Servers tend to
be more powerful than workstations. Servers are generally not used by humans directly, but rather run
continuously to provide "services" to the other computers on the network. Services provided can include
printingand faxing, software hosting, filestorageand sharing,messaging,data storage and retrieval, complete
access control (security) for the network's resources, and many others. 2A Wide Area Network (WAN) is a
network that covers a broad area (i.e.,any telecommunications network that links acrossmetropolitan,regional,
or national boundaries) using private or public network transports. Business and government entities utilize
WANs to relay data amongemployees, clients,buyers,and suppliersfromvariousgeographical locations.3PANis
a network arranged within an individual person,typically within a rangeof 10 meters. PAN is used for connecting
computer devices of personal use and is known as Personal Area Network.4MAN A metropolitan area network
is a network that covers a larger geographic area by interconnecting a different LAN to form a larger network.
Government agencies use MAN to connect to the citizens and private industries. In MAN, various LANs are
connected to each other through a telephone exchange line.
An auction is a sales event wherein potential buyers place competitive bids on assets or services either in an
open or closed format. Auctions are popular becausebuyers and sellers believethey will get a good deal buying
or sellingassets.1EA The most seen type of auction,it’s also known as the Open ascendingauction.The buyers
will startbiddingwith a low price, then the bid prices go up until there’s no more price biddinga higher price.
The lastperson to bid,which is also theperson who bids the highestprice,will get the item. 2DA is the opposite
of an English auction, it’s also known as an Open descending auction. The seller will initiate a high value and
bidders will bid down from this high price,in other words, the bid price will go down until a bidder’s willingto
take it. 3 The Sealed-bid auction usually happens online, and it’s commonly used for advertisements,
construction contracts,commodities, and real estate, and it’s also widely used by many countries’ governments
for refinancing credit and foreign exchange or selling inventory goods. In first-price sealed-bid auction, the
winner pays the highest price and if there is more than one item, the rest of the item will go to the bidders with
the second-highest price and third-highest price, etc. 4 DA Both buyers and sellers will post their acceptable
prices to a board/listand double auction will find a match for buyers and sellers, then execute the trade at the
desired price. Institutional sale and purchases of stocks/shares is a perfect example of a double auction, the
third-party middle person (in this case the stock exchange or trading desk at investment banks), a match
between the bid-price and ask-price is found and a trade is executed when the match is found. 5A reverse
auction is a type of auction in which sellers bid for the prices at which they are willing to sell their goods and
services.The buyer puts up a request for a required good or service.Sellers then placebids for the amount they
are willingto be paid for the good or service,and at the end of the auction the seller with the lowest amount wi