Electronic Commerce Chapter 6
_____ are the prices that potential buyers in an auction are willing to pay for an item.
Bids
____ were computers that allowed users to connect using dial-up connections through telephone lines to read and post messages in a common discussion forum.
Bulletin Board systems
The most common format used on eBay is a computerized version of the _____ auction.
English
Phone manufacturers depended on third-party operating system software in the past but are now creating their own operating systems. (T/F)
False
The introduction of larger mobile phones and tablet devices has made the use of Wireless Application Protocol (WAP) mandatory. (T/F)
False
Virtual communities began online after the Internet was in general use. (T/F)
False
One of the first operating systems for Internet-capable phones was made by _____ for their phones and other portable devices.
Palm
Because sniping software synchronizes its internal clock to the auction site clock and executes its bid with a computer's precision, the software almost always wins out over a human bidder. (T/F)
True
In industries where there is a high degree of competition among suppliers, reverse auctions can be an efficient way to conduct and manage the price bidding that would naturally occur in that market. (T/F)
True
Many colleges and universities now offer courses that use distance learning platforms such as Blackboard for student-instructor interaction. (T/F)
True
Sniping software observes auction progress until the last second or two of the auction clock. (T/F)
True
The types of products that work well for group shopping sites are branded products with well-established reputations. (T/F)
True
Visitors spend a greater amount of time at portal sites than they do at most other types of Web sites, which is attractive to advertisers. (T/F)
True
Second-price sealed-bid auctions are commonly called _____ auctions.
Vickrey
The whole auction process is managed by a(n) _____.
auctioneer
In a(n) _____ auction, buyers and sellers each submit combined price-quantity bids to an auctioneer.
double
Smaller businesses often sell their unusable and excess inventory to _____, which are firms that find buyers for these items.
liquidation brokers
Traditionally, large companies distribute excess inventory through _____.
liquidation specialist
Existing auction sites, such as eBay, are inherently more valuable to customers than new auction sites. This basic economic fact is called a(n) _____.
lock-in effect
Mobile phones that function as credit cards are called _____
mobile wallets
A(n) _____ is a gathering place for people and businesses that does not have a physical existence.
online community
An English auction is sometimes called a(n) _____ because the bids are publicly announced.
open auction
The trend toward having readers help write their own news is called _____ journalism.
participatory
Wary bidders in low-price auctions can check the_____ to protect themselves from being cheated.
seller's records
People employed by a seller or an auctioneer to make bids on behalf of the seller are called _____.
shill bidders