Electronic Commerce 2012 7E Test Bank Chapter 2

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Electronic Commerce 2012, 7e (Turban) Chapter 2 E-Commerce: Mechanisms,

Infrastructure, and Tools 2.1 True/False Question: Eastern Mountain Sports uses Web

2.0 tools to increase collaboration, information sharing, and communication among their

employees, suppliers, and customers. Answer:

Question: A dashboard is a graphical display of performance results. Answer:

Question: Intermediation is the process of buying materials, products, and services directly

from suppliers, distributors, or the government. Answer:

Question: Dynamic pricing is the most common way customers purchase items online.

Answer:

Question: The emergence of electronic marketplaces has resulted in lower information

search time and costs for buyers. Answer:

Question: In marketing, an intermediary is a third party that operates between

manufacturers and buyers. Intermediaries of all kinds offer their services on the Web.

Answer:

Question: Individuals are the largest consumers, accounting for more than 85 percent of

EC volume and value activities. Answer:

Question: Disintermediation is the elimination of intermediaries between sellers and

buyers. Answer:

Question: Travelers using airline Web sites to book their flights directly, without the use of

travel agents, is resulting in the reintermediation of travel agents. Answer:

Question: A single-sided e-marketplace is a private e-marketplace in which one company

makes purchases from invited suppliers. Answer:

Question: Private and public are two types of e-marketplaces. Answer:

Question: Electronic storefronts, Internet malls, and exchanges are major B2B

e-marketplaces. Answer:

Question: Microsite refers to a page or pages that are meant to function as an auxiliary

supplement to a primary website. Answer:

Question: A Web portal is a single point of access, through a Web browser, to critical

business information loaded inside and outside (via Internet) an organization. Answer:

Question: Pure-play stores sell only one or a few kinds of products. Answer:

Question: A widget is an element of user interface that displays an information

arrangement changeable by the user, such as a window. Answer:

Question: The two major types of online intermediaries are infomediaries and negotiators.

Answer:

Question: A shopping facilitator is a type of broker and helps consumers compare prices

and service at different stores. Answer:

Question: WebMD, which is the largest U.S. medical services company, is known mainly

for its webmd.com consumer portal, but its core business is being an e-intermediary.

Answer:

Question: A desktop search is conducted by tools that search only the contents of the users

own computer files. Answer:

Question: Search engines not only search and match,” but also have capabilities that can be

used to perform routine tasks that require intelligence. Answer:

Question: Shopping carts for B2B are fairly simple, but a shopping cart for B2C may be

more complex. Answer:

Question: An electronic shopping cart is an order-processing technology that allows

customers to accumulate items they wish to buy while they continue to shop. Answer:

Question: An auction is a competitive process and market mechanism that uses a

competitive process by which a seller solicits consecutive bids from buyers or a buyer

solicits bids from sellers. Answer:

Question: Forward auctions are bidding or tendering systems in which the buyer places an

item for bid on a request for quote (RFQ) system; then potential suppliers bid on the job,

with the price reducing sequentially, and the lowest bid wins. Answer:

Question: Reverse auctions are primarily B2C. Answer:

Question: English and Yankee are the two major types of double auctions. Answer:

Question: E-auctions are becoming less important selling and buying channels for

companies and individuals. Answer:

Question: The major limitations of e-auctions are minimal security, possibility of fraud,

and a limited participation. Answer:

Question: A limitation of e-bartering for businesses is that excess capacity items such as

office space, storage, factory space, idle facilities, and labor cannot be bartered. Answer:

Question: Bartering is the exchange of goods and services. Answer:

Question: Twitter is a free microblogging service that allows its users to send and read

other users updates. Answer:

Question: E-marketplaces, shopping carts, e-catalogs, and auctions are the major Web 2.0

mechanisms. Answer:

Question: An auction is the most popular type of virtual community. Answer:

Question: Net neutrality is a big advantage of Web 3.0. Answer:

Question: The entertainment EC activity is supported by A) Web 2.0 tools. B) e-auctions.

C) electronic markets. D) storefronts. Answer:

Question: EC activities include A) trading, buy, sell, and exchange. B) communicate,

collaborate, and learn. C) improve performance. D) all of the above. Answer:

Question: Traditional and electronic markets have three main functions, which include

each of the following except A) matching buyers and sellers. B) facilitating the exchange

of information, goods, services, and payments associated with market transactions. C)

financing the transformation of raw materials into finished products. D) providing an

institutional infrastructure, such as a legal and regulatory framework that enables the

efficient functioning of the market. Answer:

Question: An online market, usually B2B, in which buyers and sellers exchange goods or

services best defines A) cybermarket. B) e-marketplace. C) auction site. D) cyberstore.

Answer:

Question: The emergence of electronic marketplaces changed several of the processes used

in trading and supply chains including A) lowering information search time and cost for

buyers. B) the ability of buyers, sellers, and the virtual market to each be in a different

location. C) the ability for EC to leverage capabilities with increased effectiveness and

lower transaction and distribution costs, leading to more efficient “friction-free” markets.

D) all of the above. Answer:

Question: The portion of an e-sellers business through which customers interact, including

the sellers portal, electronic catalogs, shopping cart, and payment gateway is referred to as

the ________ of the business. A) front end B) back end C) infrastructure D) intermediary

Answer:

Question: Each of the following is a major component and player in a marketspace except

A) auctions. B) products and services. C) infrastructure. D) front end. Answer:

Question: Activities related to order aggregation and fulfillment, inventory management,

purchasing from suppliers, accounting and finance, packaging, and delivery are done in

what is termed the ________ of the business. A) front end B) back end C) infrastructure D)

intermediary Answer:

Question: The elimination of various types of agents that mediate between buyers and

sellers, such as travel and insurance agents, is referred to as A) automation. B)

disintermediation. C) remediation. D) e-distribution. Answer:

Question: A private e-marketplace in which one company sells either standard and/or

customized products to qualified companies best defines A) buy-side e-marketplace. B)

sell-side e-marketplace. C) Webstore. D) hidden e-marketplace. Answer:

Question: Online markets that are owned and operated by a single company and that are

either sell-side or buy-side are known as A) private e-marketplaces. B) commercial portals.

C) e-malls. D) B2B marketplaces. Answer:

Question: Each of the following is a true statement about public e-marketplaces except A)

public marketplaces are usually B2B markets. B) public marketplaces are often owned by

a third party. C) public marketplaces are not regulated by the government. D) public

marketplaces serve many sellers and buyers. Answer:

Question: The major ________ mechanisms are storefronts and Internet malls. A) B2B B)

C2B C) B2B2C D) B2C Answer:

Question: An electronic storefront includes several mechanisms that are needed for

conducting the sale. The most common mechanisms include each of the following except

A) electronic catalog. B) search engine. C) supply chain. D) payment gateway. Answer:

Question: Types of stores and malls include A) general stores/malls. B) specialized

stores/malls. C) pure-play stores. D) all of the above. Answer:

Question: A(n) ________ is a single point of access, through a Web browser, to critical

business information located inside and outside (via Internet) an organization. A) browser

B) intermediary C) Web portal D) search engine Answer:

Question: Electronic intermediaries that provide and/or control information flow in

cyberspace, often aggregating information and selling it to others, best defines A)

infomediaries. B) knowledge managers. C) metamediary. D) Webstore. Answer:

Question: An e-commerce intermediary that connects manufacturers with business buyers

(customers) by aggregating the catalogs of many manufacturers in one place best describes

A) electronic catalog. B) e-distributor. C) metamediary. D) broker. Answer:

Question: The practice of identifying and enabling specific content across the enterprise to

be indexed, searched, and displayed to authorized users best describes A) desktop search.

B) enterprise search. C) web search. D) portal search. Answer:

Question: Which is not a popular search engine? A) Google B) Linux C) AltaVista D)

Lycos Answer:

Question: An order-processing technology that allows customers to accumulate items they

wish to buy while they continue to shop best defines A) intelligent agent. B) e-fulfillment

agent. C) electronic shopping cart. D) mobile portal. Answer:

Question: Prices that change based on supply and demand relationships at any given time

best defines A) dynamic pricing. B) commodity pricing. C) pre-shopping. D) negotiation.

Answer:

Question: An auction in which a seller entertains bids from buyers, and the bidders

increase price sequentially best defines A) forward auctions. B) reverse auctions. C)

bidding auction system. D) tendering system. Answer:

Question: An auction in which the buyer places an item for bid on a request for quote

system, potential suppliers bid on the job, with the price reducing sequentially, and the

lowest bid wins; this describes A) forward auctions. B) reverse auctions. C) bidding

auction system. D) tendering system. Answer:

Question: An auction in which multiple buyers and their bidding prices are matched with

multiple sellers and their asking prices, considering the quantities on both sides best

defines A) forward auction. B) reverse auction. C) double auction. D) penny auction.

Answer:

Question: A formal auction in which participants pay a nonrefundable small fee for each

bid, and the bid level changes by small increments. This defines A) reverse auction. B)

charge-by-bid auction. C) forward auction. D) penny auction. Answer:

Question: Benefits of e-auctions to sellers include A) anonymity. B) convenience of

bidding anywhere and any time. C) lack of differentiation. D) optimal price is determined

by the market. Answer:

Question: Benefits of e-auctions to buyers include A) liquidating large quantities quickly.

B) higher repeat purchases. C) optimal price setting determined by the market. D)

opportunities to find unique items. Answer:

Question: A marketplace in which an intermediary arranges barter transactions best defines

A) bartering exchange. B) forward auction. C) blog. D) Web portal. Answer:

Question: Which of the following is a social software tool? A) auctions B) blogs C)

shopping carts D) e-catalogs Answer:

Question: A combination of two or more websites into a single website that provides the

content of both sites to deliver a novel product to consumers best defines A) blog. B)

mashup. C) podcast. D) wiki. Answer:

Question: A method for Internet users to store, organize, search, and manage bookmarks of

Web pages on the Internet with the help of metadata best defines A) tagging. B) filtering.

C) social bookmarking. D) intermediating. Answer:

Question: The practice and method of collaboratively creating, classifying, and managing

tags to annotate and categorize content best defines A) mashup. B) tweeting. C) social

bookmarking. D) folksonomy. Answer:

Question: Which of the following was Stormhoek Winerys successful marketing campaign

that had volunteers, over a series of days, host dinners that included tasting Stormhoek

wine? A) 100 Geek Dinners in 100 Days. B) Stormhoeks May Wine Days. C) Stormhoeks

Friends, Dinner, and Wine. D) Stormhoeks No Grape Before Its Time Wine Tasting Event

Answer:

Question: Types of virtual communities include each of the following except A) relations

or practices. B) virtual worlds. C) mashups. D) social networks. Answer:

Question: Which of the following refers to communities organized by interest, such as

hobbies, technical topic, vocations, political parties, or trade unions? A) association portals

B) affinity portals C) communities of practice D) virtual worlds Answer:

Question: Facebook, LinkedIn, and catster.com are examples of A) gender communities.

B) communities of practice. C) virtual worlds. D) social network sites. Answer:

Question: Which of the following is a global, multilanguage, social network popular in

Asia and parts of Europe, Africa, and South America? A) Hi5.com B) Piczo.com C)

Friendsreunited.co.uk D) Iwiw.net Answer:

Question: Capabilities and services provided by social networking sites include A)

discussion forums. B) blogs for discussion and dissemination of information. C) viewing

and sharing photos, videos, and documents. D) all of the above. Answer:

Question: A virtual world is A) a user-defined world in which people can interact, play, and

do business. B) a single point of access, through a Web browser, to critical business

information located inside and outside (via Internet) an organization. C) a social network

whose major interest is business topics. D) a combination of two or more websites into a

single website that provides the content of both sites to deliver a novel product to

consumers. Answer:

Question: Types of business activities in virtual worlds include each of the following

except A) creating and managing a virtual business. B) operating a bed and breakfast in

Nova Scotia. C) providing services for those who build, manage, or make money with

virtual properties. D) conducting regular business activities. Answer:

Question: Which of the following consists of the creation of high-quality content and

services produced by gifted individuals using Web 2.0 technology as an enabling platform

and is used to describe the future of the World Wide Web? A) Level 2.0 B) Web 4.0 C)

Web 3.0 D) Web 5.0 Answer:

Question: An evolving extension of the Web in which Web content can be expressed not

only in natural language, but also in a form that can be understood, interpreted, and used

by intelligent computer software agents, permitting them to find, share, and integrate

information more easily describes A) Web 4.0. B) Camelot Web. C) Web 2.0. D) Semantic

Web. Answer:

Question: Concerns about Web 3.0 implementation and the future of EC include A) lack of

net neutrality. B) wiring for a sustainable world. C) the use of 3-D tools. D) ownership.

Answer:

Question: McKinsey and Companys trend predictions include(s) A) distributed cocreation

moves into the mainstream. B) imagining anything as a service. C) innovation coming

from the bottom of the pyramid. D) all of the above. Answer:

Question: List three ways in which electronic marketplaces have changed the processes

used in trading and supply chains. Answer:

Question: Define marketspace. Identify the major components and players in the

marketspace. Answer:

Question: Briefly discuss four mechanism aids for Web 2.0 tools. Answer:

Question: Identify seven concerns regarding the implementation of Web 3.0 and the future

of EC. Answer:

Question: List five of McKinsey and Companys predictions about the future of EC, Web

3.0, and Semantic Web. Answer: