Define the term e-commerce. What are the different approaches of commerce over the Internet? What are the advantages of e-commerce to a business? What are the constraints and limitations of e-commerce? What measures would reduce security risks for performing online financial transactions?

E-commerce refers to the buying and selling of goods and services over the internet. Different approaches to e-commerce include:

1. Business-to-Consumer (B2C): Retailers selling products directly to consumers online.
2. Business-to-Business (B2B): Companies engaging in electronic transactions with other businesses.
3. Consumer-to-Consumer (C2C): Individuals buying and selling goods or services to each other through online platforms.

Advantages of e-commerce to businesses include expanded market reach, reduced operating costs, enhanced customer engagement, and increased flexibility. However, constraints and limitations may include security risks, limited internet access in certain areas, and potential for fraudulent transactions.

To reduce security risks for online financial transactions, businesses can implement measures such as encryption technology, secure payment gateways, two-factor authentication, regular security audits, and customer education on safe online practices.