CIS 250 chap 1

A first mover is always successful because they gain a competitive advantage. Answers: True False

False

Universal standards make price discovery more costly, slower, and less accurate. Answers: True False

False

A first mover is a company that makes the first attempt to market in a particular area. Answers: True False

True

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

True

It is estimated that by 2022, the size of the B2B market will reach: Answers: a. $7.3 trillion b. $3.7 trillion c. $730 million d. $370 billion

a. $7.3 trillion

E-commerce can be defined as: Answers: a. digitally enabled commercial transactions between and among organizations and individuals. b. the digital enablement of transactions and processes within an organization. c. the use of digital technologies in a firm's daily activities. d. any electronically based organizational activity that supports a firm's market exchanges.

a. digitally enabled commercial transactions between and among organizations and individuals.

All of the following were visions of e-commerce expressed during the early years of e-commerce except: Answers: a. fast follower advantage b. disintermediation c. friction-free commerce d. a nearly perfect information marketspace

a. fast follower advantage

Which of the following best describes the early years of e-commerce? Answers: a. They were a technological failure but a business success. b. They were a technological success but a mixed business success. c. They were a technological success but a business failure. d. They were a mixed technological and business success.

b. They were a technological success but a mixed business success.

Which of the following is not an element of friction-free commerce? Answers: a. Prices can be dynamically adjusted to reflect actual demand b. Transaction costs are high c. Unfair competitive advantages are eliminated d. Information is equally distributed

b. Transaction costs are high

Which type of e-commerce is distinguished by the type of technology used in the transaction rather than by the nature of the market relationship? Answers: a. business-to-business (B2B) b. mobile e-commerce c. consumer-to-consumer (C2C) d. social e-commerce

b. mobile e-commerce

The world's online population was estimated to be around ________ in 2018. Answers: a. 360 million b. 3.6 billion c. 6.3 billion d. 36 billion

b. 3.6 billion

All of the following are examples of social networks except: Answers: a. Twitter b. Y Combinator c. Pinterest d. Instagram

b. Y Combinator

The total number of users or customers an e-commerce business can obtain is a measure of which of the following? Answers: a. information density b. reach c. ubiquity d. interactivity

b. reach

Which of the following is not true about the use of apps? Answers: a. Users spend nearly 90% of their smartphone app minutes using their top five apps b. Apps are easier to control and monetize than websites c. Users still spend less time using apps than they do using desktops or mobile websites d. Users typically use about 20 different apps per month

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

Which of the following is a characteristic of e-commerce during the Invention period? Answers: a. extensive government surveillance b. earnings and profit emphasis c. disintermediation d. mobile technology

c. disintermediation

Which of the following refers to the displacement of market middlemen and the creation of a new direct relationship between producers and consumers? Answers: a. network effect b. first mover advantage c. disintermediation d. friction-free commerce

c. disintermediation

Which of the following is an example of an e-commerce first mover that failed? Answers: a. eBay b. E*Trade c. eToys d. Etsy

c. eToys

Which of the following is an example of an on-demand service company? Answers: a. Tumblr b. Facebook c. Airbnb d. YouTube

c. Airbnb

Which of the following describes the basic web policy of large firms during the Invention period? Answers: a. Emphasize the necessity for the Web to generate profits. b. Integrate social networks and the mobile platform with website marketing. c. Use the Web to sell complex goods and services online. d. Maintain a basic, static website depicting the firm's brand.

d. Maintain a basic, static website depicting the firm's brand.

The early years of e-commerce were driven by all of the following factors except: Answers:a. visions of profiting from new technology b. an emphasis on quickly achieving very high market visibility c. a huge infusion of venture capital funds d. an emphasis on exploiting traditional distribution channels

d. an emphasis on exploiting traditional distribution channels

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? Answers a. ubiquity b. information density c. personalization d. richness

d. richness

Which of the following refers to the complexity and content of a message? Answers: a. global reach b. information density c. interactivity d. richness

d. richness

In which year can e-commerce be said to have begun? Answers: a. 2007 b. 2001 c. 2001 d. 1995

d. 1995

Which of the following is a characteristic of the Reinvention phase of e-commerce? Answers: a. massive proliferation of dot-com start-ups b. rapid growth of search engine advertising c. widespread adoption of broadband networks d. expansion of e-commerce to include services as well as goods

d. expansion of e-commerce to include services as well as goods

Unfair competitive advantages occur when: Answers: a. market middlemen are displaced b. firms are able to gather monopoly profits c. information is equally distributed and transaction costs are low d. one competitor has an advantage that others cannot purchase

d. one competitor has an advantage that others cannot purchase