BCIS 4720 Chapter 1 Quiz

Analysts estimate that by 2024, consumers will be spending around ________ in digital transactions.

$1.8 trillion

In 2019, there were more than ________ Internet hosts worldwide.

1 billion

The world's online population was estimated to be around ________ in 2020.

4 billion

Which of the following is an example of e-business?

Amazon's inventory control system

The Internet has shown similar growth patterns as other electronic technologies of the past.

False

The term e-commerce refers to the digital enabling of business processes both inside and outside the firm.

False

Which of the following has not been the subject of concern about its increasing market dominance in 2020-2021?

Netflix

Which of the following is not a major business trend in e-commerce in 2020-2021? Social e-commerce continues to grow. On-demand service companies garner multibillion-dollar valuations. Retail e-commerce revenues exceed B2B e-commerce revenues for the first time. The mobile app ecosystem continues to grow.

Retail e-commerce revenues exceed B2B e-commerce revenues for the first time.

All of the following statements about e-commerce in the United States in 2020 are true except: Retail e-commerce and m-commerce grew as a result of the Covid-19 pandemic. Social e-commerce generated more revenue than mobile e-commerce. Mobile advertising accounted for almost 70% of all digital advertising spending. On-demand service firms fueled the growth of local e-commerce.

Social e-commerce generated more revenue than mobile e-commerce.

E-commerce and e-business systems blur together at the business firm boundary, where internal business systems link up with suppliers or customers.

True

It is likely that e-commerce will eventually impact nearly all commerce.

True

Which of the following can be considered synonymous with the term e-commerce?

digital commerce

Which of the following best defines e-commerce?

digitally enabled commercial transactions between and among organizations and individuals

Which of the following is another name for a revenue model?

financial model

Which of the following is not a unique feature of e-commerce technology?

information asymmetry

The cost incurred by merchants to change product prices (i.e., the costs of reentering prices into computer systems) is referred to as:

menu costs

Which of the following features of e-commerce technology allows users to participate in the creation of online content?

social technology

Which of the following was the original "killer app" that made the Internet commercially interesting and extraordinarily popular?

the Web

Which of the following is the best definition of transaction cost?

the cost of participating in a market

Interactivity in the context of e-commerce provides which of the following functionalities?

the enabling of two-way communication between consumer and merchant

Which of the following features of e-commerce technology enables merchants to market and sell "complex" goods and services to consumers via marketing messages that can integrate video, audio, and text?

richness