ECON139 Chapter 11

Which of the following statements about Instagram is not true? A) Instagram is owned by Twitter. B) Instagram is a photo-sharing app. C) Instagram is growing more quickly than Facebook. D) In terms of time spent per month by users, Instagram is second only to Facebook.

A) Instagram is owned by Twitter.

One of the first online virtual communities was: A) The Well B) Myspace C) AOL D) Salon.com

A) The Well

Which of the following is a leading social network in Russia? A) VK B) Tuenti C) Orkut D) Mixi

A) VK

The fact that participating in an Internet auction means that you will need to purchase a computer, learn to use it, and pay for Internet access, is an example of ____________ costs. A) equipment B) fulfillment C) delayed consumption D) monitoring

A) equipment

A website designed to give horse enthusiasts a common discussion area would be classified as a(n): A) interest-based social network B) affinity community C) practice network D) sponsored community

A) interest-based social network

A(n) ________ offers members focused discussion groups, help, information, and knowledge related to an area of shared practice. A) practice network B) general community C) affinity community D) interest-based social network

A) practice network

Which of the following is a community of members who self-identify with a demographic or geographic category? A) practice network B) sponsored community C) affinity community D) interest-based social network

C) affinity community

Which of the following is not one of the top factors a business should consider when planning an Internet auction? A) type of product B) type of auction C) location of auction D) bid increments

C) location of auction

The term ________ refer(s) to the advantages conferred as an auction site becomes larger in terms of visitors and products for sale. A) siphoning B) herd behavior C) network effects D) channel expansion

C) network effects

Which social network functionality allows users to view a list of updates from friends as well as advertisements and notification in chronological order? A) message board B) timeline C) newsfeed D) friends' network

C) newsfeed

The amount of time visitors spend on a site is a measure of ________. A) reach B) loyalty C) conversation D) engagement

D) engagement

ESPN.com is an example of a: A) general purpose portal. B) vertical market portal based on affinity group. C) vertical market portal based on focused content. D) focused content portal.

D) focused content portal

Threatening negative feedback in return for a benefit is an example of: A) feedback extortion. B) offensive shill feedback. C) defensive shill feedback. D) sending spam.

A) feedback extortion

One partial solution to high monitoring costs is ________ pricing. A) fixed B) dynamic C) allocated D) distress

A) fixed

________ allows the consumer to enter a maximum price and the auction software automatically places incremental bids up to that maximum price as their original bid is surpassed. A) A watch list B) Proxy bidding C) Sealed bidding D) Price matching

B) Proxy bidding

Bloom is an example of a(n): A) interest-based social network B) affinity community C) sponsored community D) practice network

B) affinity community

Which of the following involves e-mailing another seller's bidders and offering the same product for less? A) transaction interception B) bid siphoning C) shill bidding D) persistent bidding

B) bid siphoning

The time spent watching and reviewing auction bids is a part of ________ costs. A) pricing B) monitoring C) delayed consumption D) fulfillment

B) monitoring

When sellers agree informally or formally to set floor prices below which they will not sell on auction items, this is known as: A) discriminatory pricing. B) price matching. C) bid rigging. D) distress pricing.

B) price matching

When did the first online communities form? A) the 1970s B) the 1980s C) the 1990s D) the 2000s

B) the 1980s

Howard Rheingold, one of The Well's early participants, coined the term ____________, to refer to "cultural aggregations that emerge when enough people bump into each other often enough in cyberspace." A) social networks B) virtual communities C) community portals D) social forums

B) virtual communities

Healthboards is an example of a(n) ___________ social network. A) practice-based B) interest-based C) affinity-based D) general

C) affinity-based

Which of the following is not one of the three defining characteristics of a portal? A) commerce B) content C) auctions D) navigation of the Web

C) auctions

All of the following are benefits of auctions except: A) more efficient price discovery. B) lower transaction costs. C) decreased price transparency. D) increased market efficiency.

C) decreased price transparency

Instagram is an example of a(n): A) interest-based social network B) affinity community/social network C) general community D) practice network

C) general community

Yahoo owns all of the following except: A) Tumblr. B) Flickr. C) Aviate. D) Instagram.

D) Instagram

Which of the following is not one of the typical portal revenue sources? A) commissions on sales B) subscription fees C) tenancy deals D) referral fees

D) referral fees

The profit a seller makes at auction is a function of all of the following except: A) initial pricing B) auction length. C) the number of units for auction. D) watch lists

D) watch lists

_____________ has the highest penetration of social network usage among the general population. A) North America B) Latin America C) Europe D) Asia-Pacific

A) North America

All of the following are solutions to the problem of high monitoring costs except: A) seller rating systems. B) watch lists. C) proxy bidding. D) fixed pricing.

A) seller rating systems

E-mailing buyers to warn them away from a seller is a type of auction fraud known as ________. A) transaction interference B) bid siphoning C) bid rigging D) shill bidding

A) transaction interference

______________ is the second leading social network in the United States in terms of monthly unique visitors. A) Twitter B) LinkedIn C) Instagram D) Pinterest

B) LinkedIn

Each of the following is a top six social network site in the United States except: A) Tumblr B) Myspace C) Instagram D) Pinterest

B) Myspace

Which of the following early leaders in social networking has been reinvented as a music-oriented social network? A) Vevo B) Myspace C) Polyvore D) Tumblr

B) Myspace

Which of the following types of auctions "shields the brand" of the seller? A) English auction B) Name Your Own Price auction C) Dutch auction D) penny auction

B) Name Your Own Price auction

Which of the following statements illustrates the network effects that portals are subject to? A) Specialized vertical market portals attract only a small percentage of the audience, while a few large megaportals garner most of the market. B) The value of the portal to advertisers and consumers increases geometrically as reach increases. C) The greater the amount of content provided by a portal, the greater its value to the community. D) The greater number of portals available, the greater the potential audience for each.

B) The value of the portal to advertisers and consumers increases geometrically as reach increases.

Which of the following is the market leader in C2C auctions? A) Amazon B) eBay C) uBid D) eBid

B) eBay

Which of the following types of auctions is most often associated with sellers that have many identical items to sell? A) English auctions B) Name Your Own Price auctions C) Dutch Internet auctions D) group buying auctions

C) Dutch Internet auctions

A(n) ________, in which the highest bidder wins, is the most common form of auction. A) Dutch Internet auction B) Japanese auction C) English auction D) reverse auction

C) English auction

________ is the tendency to gravitate toward, and bid for, auction listings with one or more existing bids. A) Group buying B) Winner's regret C) Herd behavior D) Bid rigging

C) Herd behavior

In 2015, Fortune 500 companies used _____________ more than Facebook. A) no other social networks B) Tumblr C) LinkedIn D) Pinterest

C) LinkedIn

On which of the following do users spend the least amount of time per month? A) Snapchat B) Tumblr C) LinkedIn D) Pinterest

C) LinkedIn

____________ was an early investor in Facebook. A) Google B) Apple C) Microsoft D) LinkedIn

C) Micosoft

_____________ recently acquired LinkedIn. A) Facebook B) Google C) Microsoft D) Verizon

C) Microsoft

Facebook owns _______________. A) Pinterest B) Snapchat C) WhatsApp D) Tumblr

C) WhatsApp

__________ of procurement officers use auctions to purchase goods. A) Eighty per cent (80%) B) Less than a quarter C) Over one third D) Twenty-five per cent (25%)

C) over one third

Which of the following is not a risk or cost of Internet auctions? A) delayed consumption costs B) equipment costs C) price transparency D) trust risks

C) price transparency

Which of the following involves a concern that one will never know how much the ultimate winner might have paid, or the true value to the final winner? A) herd behavior B) winner's regret C) seller's lament D) loser's lament

C) seller's lament

________ refers to the use of secondary user IDs or bidders who have no actual intention to buy to artificially raise the price of an item. A) Bid manipulation B) Shill feedback C) Shill bidding D) Bid rigging

C) shill bidding

A ________ permits the consumer to monitor specific auctions of interest, requiring the consumer to pay close attention only in the last few minutes of bidding. A) bidding fee auction B) channel manager C) watch list D) rating system

C) watch list

In 2015, which age group has the fastest growing rate of Facebook usage? A) 12-34 B) 35-45 C) 46-65 D) Adults over 65

D) Adults over 65

_______________ is an example of a practice network? A) PredictWallstreet B) Instagram C) Debater D) Doximity

D) Doximity

Priceline is an example of a(n): A) English auction. B) Dutch auction. C) penny auction. D) Name Your Own Price auction

D) Name Your Own Price auction

Facebook was the leader in U.S. ad spending revenues on social networks in 2016. What company earned the second most amount of ad spending revenue? A) Snapchat B) LinkedIn C) Pinterest D) Twitter

D) Twitter

________ has tentatively agreed to purchase Yahoo. A) AT&T B) Microsoft C) AOL D) Verizon

D) Verizon

________ refers to the feeling that one has paid too high a price for an item won at auction. A) Seller's lament B) Winner's lament C) Loser's regret D) Winner's regret

D) Winner's regret

The technology used by early communities was limited to mostly: A) instant messaging B) FTP C) email D) bulletin boards

D) bulletin boards

After Google, the next portal/search engine site with the most unique visitors is: A) Yahoo. B) Microsoft. C) AOL. D) Facebook

A) Yahoo

All of the following types of auctions generally involve single units except: A) English auction. B) Dutch Internet. C) Name Your Own Price auction. D) penny auction.

B) Dutch Internet