E-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet. These business transactions occur either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business.
NBA draft lottery. The NBA Draft is an annual event held since 1985 by the National Basketball Association (NBA), in which the teams who had missed the playoffs that year participate in a lottery process to determine the draft order in the NBA draft.
Starting from 1987, the NBA modified the lottery system so that only the first three picks were determined by the lottery. After the three envelopes were drawn, the remaining non-playoff teams would select in reverse order of their win-loss record.