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