eBay
Definition
eBay is an online marketplace platform that allows individuals and businesses to buy and sell a vast array of goods through auctions or direct sales. It provides a space for buyers to find unique items and for sellers to reach a global audience.
Analogy
Think of eBay as a colossal digital flea market where instead of walking from booth to booth, you navigate through web pages, discovering everything from vintage watches to the latest tech gadgets, all from the comfort of your home. Just like haggling prices at a flea market, eBay allows for bargaining through auctions.
Related terms
Online Marketplace: A digital platform where products or services are bought and sold by multiple third parties over the Internet.
Auction: A sales process where potential buyers place competitive bids on assets or services until the highest bid is reached.
E: commerce - The buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions
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