E-commerce involves buying and selling of goods and services online. There are different types of e-commerce models: business-to-business (B2B), business-to-consumer (B2C), consumer-to-business (C2B), and consumer-to-consumer (C2C). To perform online business, elements like an online store, payment capabilities, delivery, and after-sale support are required. While e-commerce provides advantages like easy product discovery, 24/7 availability, and flexible payments, disadvantages include security threats, delivery issues, and competition.