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In economics and finance, arbitrage is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalize on the difference, the profit being the difference between the market prices at which the unit is traded. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price.

The term is mainly applied to trading in financial instruments, such as bonds, stocks, derivatives, commodities, and currencies. People who engage in arbitrage are called arbitrageurs.

Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge.

Arbitrage may take place when:
- the same asset does not trade at the same price on all markets ("the law of one price").
- two assets with identical cash flows do not trade at the same price.
- an asset with a known price in the future does not today trade at its future price discounted at the risk-free interest rate

E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.

E-commerce businesses may also employ some or all of the following:
Online shopping for retail sales direct to consumers via web sites and mobile apps
Providing or participating in online marketplaces, which process third-party business-to-consumer or consumer-to-consumer sales;
Business-to-business buying and selling;
B2B electronic data interchange;
Marketing to prospective and established customers by e-mail or fax (for example, with newsletters);
Online financial exchanges for currency exchanges or trading purposes.

Some common applications related to electronic commerce are:
Business-to-business e-commerce
Business-to-consumer e-commerce
Conversational commerce: e-commerce via chat
Document automation in supply chain and logistics
Electronic tickets
Online auction
Print on demand
Shopping cart software
Social networking
Teleconference
Virtual assistant

Recommerce or reverse commerce is the selling of previously owned, new or used products, mainly electronic devices or media such as books, through physical or online distribution channels to buyers who repair, if necessary, then reuse, recycle or resell them.

The term is now primarily used to describe businesses which resell used goods. Most of them focus on consumer electronics, such as smartphones, tablets, and notebooks. Physical media, such as books, DVDs, and blu-ray discs are also significant.

While there have long been channels for selling used goods, such as garage sales and flea markets, online platforms such as eBay, Craigslist, and Amazon allow individuals to sell new & used goods much more efficiently.

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