eBay
Definition
eBay is an American multinational e-commerce corporation that facilitates consumer-to-consumer and business-to-consumer sales through its website.
Analogy
Think of eBay as a giant online garage sale. Just like at a garage sale, you can find all sorts of items, from vintage clothing to electronics, being sold by different people. And just like haggling over prices at a garage sale, eBay allows for bidding on items.
Related terms
Online Auction: A service in which auction users or participants sell or bid for products via the Internet. This is the method through which many items on eBay are sold.
PayPal: An online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. PayPal was once owned by eBay and was commonly used for transactions on the site.
Consumer-to-Consumer (C2C): A business model that facilitates commerce between private individuals. This is the type of commerce most commonly seen on eBay.
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