C2C models have become popular in electronic commerce. Describe a typical C2C modeland cite ONE example (4 Marks)

A typical C2C (Consumer-to-Consumer) model is a type of e-commerce where consumers trade products, services, and information with each other online. These transactions are generally facilitated through a third party that provides an online platform where the transactions are actually carried out.

Step 1: The first step in a typical C2C model is the listing of goods or services. A consumer, or seller, will list the item or service they wish to sell on the online platform. This could be anything from a used car, a piece of furniture, or a service such as tutoring or dog walking.

Step 2: The second step is the browsing of these listings by other consumers. These consumers, or buyers, will search through the listings to find the item or service they wish to purchase.

Step 3: The third step is the transaction itself. Once a buyer has found an item or service they wish to purchase, they will go through the platform's checkout process. This often involves making a payment through the platform, which then passes the payment onto the seller.

Step 4: The final step is the delivery of the goods or service. This could involve the seller posting the item to the buyer, or the two parties meeting in person for the exchange to take place.

An example of a C2C model is eBay. eBay provides a platform for consumers to sell items directly to other consumers. They facilitate the listing, transaction, and even assist with the delivery process.