Electronic Commerce Ch 6 Quiz

a. social networking site

A(n) ______ allows individuals to create and publish a profile, create a list of other users with whom they share a connections (or connections), control that list, and monitor similiar lists made by other users. a. social networking site b. RSS feed c. usenet d. bulletin board system

c. online community

A(n) ______ is a gathering place for people and businesses that does not have a physical existence. a. meetup b. lock-in c. online community d. public space

b. escrow service

A(n) ______ is an independent party that holds a buyer's payment until the buyer receives the purchased item and is satisfied that the item is what the seller represented it to be. a. auctioneer b. escrow service c. liquidation broker d. snipe

c. open auction

An English auction is sometimes called a(n) _______ because the bids are publicly announced. a. double auction b. reverse auction c. open auction d. sealed-bid auction

b. reverse bid

An auction where visitors describe items or services they want to buy, and a group of participating merchants reply with offers to supply the item at a particular price is called a ______. a. first-price sealed-bid b. reverse bid c. second-price sealed-bid d. seller-bid

c. engage customers

Compared to traditional advertising, an effective business use of social media tools is to ______. a. broadcast information b. promote products c. engage customers d. focus on the company's interests

b. lock-in effect

Existing auction sites, such as eBay, are inherently more valuable to customers than new auction sites. This basic economic fact is called a(n) _______. a. anti-pattern effect b. lock-in effect c. smoke-and-mirrors effect d. deadlock effect

a. sealed-bid

In ______ auction, bidders submit their bids independently and are usually prohibited from sharing information with each other. a. sealed-bid b. descending-price c. seller-bid d. open-outcry

b. double

In a(n) ______ auction, buyers and sellers each submit combined price-quantity bids to an auctioneer. a. English b. double c. Dutch d. reverse

a. mobile wallets

Mobile phones that function as credit cards are called _______. a. mobile wallets b. e-caches c. universal cards d. bitcoins

d. palm

One of the first operating systems for internet-capable phones was made by ________ for their phones and other portable devices. a. samsung b. blackberry c. linux foundation d. palm

d. liquidation brokers

Smaller businesses often sell their unusable and excess inventory to ______, which are firms that find buyers for these items. a. inventory removal services b. secondary marketers c. inventory specialists d. liquidation brokers

b. Babylon

The earliest written records of auctions are from ________. a. Huanbei b. Babylon c. Rome d. Athens

a. English

The most common format used on eBay is computerized version of the _______ auction. a. English b. sealed-bid c. Dutch d. double

a. android

The most popular and fastest growing third-party mobile operating system is _______. a. android b. apple iOS c. symbian d. blackberry 10

a. participatory

The trend toward having readers help write their own news is called _______ journalism. a. participatory b. collaborative c. social d. community

c. auctioneer

The whole auction process is managed by a(n) ______. a. seller b. observer c. auctioneer d. shill bidder

d. Dutch

The______ auction is a form of open auction in which bidding starts at a high price and drops until a bidder accepts the price. a. sealed-bid b. English c. reverse d. Dutch

b. seller's records

Wary bidders in low-price auctions can check the _______ to protect themselves from being cheated. a. sniping software b. seller's records c. liquidation brokers d. escrow services

a. bulletin board systems

_______ were computers that allowed users to connect using dial-up connections through telephone lines to read and post messages in a common discussion forum. a. bulletin board systems b. microblogs c. social networks d. web chat rooms