QUIZ 1

Which of the following refers to any disparity in relevant market information among parties in a transaction? A) information asymmetry B) unfair competitive advantage C) imperfect competition D) dynamic pricing

A) information asymmetry

All of the following can be considered a precursor to e-commerce except: A) the development of the smartphone. B) Baxter Healthcare's PC-based remote order entry system. C) the French Minitel. D) the development of Electronic Data Interchange standards.

A) the development of the smartphone.

E-commerce can be defined as: A) the use of the Internet, the Web, and mobile apps to transact business. B) the use of any Internet technologies in a firm's daily activities. C) the digital enablement of transactions and processes within an organization. D) any digitally enabled transactions among individuals and organizations.

A) the use of the Internet, the Web, and mobile apps to transact business.

The world's online population was estimated to be around ________ in 2017. A) 350 million B) 3.5 billion C) 35 billion D) 350 billion

B) 3.5 billion

Which of the following is not true about the use of apps? A) U.S. adult mobile Internet users spend almost 3-1/2 hours a day using apps. B) Users still spend less time using apps than they do using desktops or mobile websites. C) Apps are easier to control and monetize than websites. D) Around 280 million people worldwide launch a smartphone app more than 60 times a day.

B) Users still spend less time using apps than they do using desktops or mobile websites.

Which of the following was the first truly large-scale digitally enabled transaction system in the B2C arena? Select one: A) EDI B) the French Minitel Correct C) the Baxter Healthcare system D) Telex

B) the French Minitel Correct

Which of the following is a characteristic of e-commerce during the Invention period? A) mobile technology B) earnings and profit emphasis C) disintermediation D) extensive government surveillance

C) disintermediation

E-commerce is available just about everywhere and anytime. This is known as: A) richness. B) information density. C) ubiquity. D) reach.

C) ubiquity.

Which of the following is not a characteristic of a perfect competitive market? A) Price, cost, and quality information are equally distributed. B) A nearly infinite set of suppliers compete against one another. C) Customers have access to all relevant information worldwide. D) It is highly regulated.

D) It is highly regulated.