E-Commerce Chapter 1

In 2015, the worlds online population was estimated to be around:

3.1 billion

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

Amazon's inventory control system.

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

Information Asymmetry

E-commerce and e-business systems blur together at the business firm boundary, at the point at which internal business systems link up with suppliers or customers. (True or False?)

TRUE

The term e-commerce refers to the digital enabling of transactions and processes involving an exchange of value across organizational boundaries. (True or False?)

TRUE

Ubiquity lowers the cognitive energy required to transact in a marketspace. (True or False?).

TRUE

Which of the following statements is true about the traditional tradeoff between the richness and reach of a marketing message prior to the development of the Web?

The larger the audience reached, the less rich the message.

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

digital commerce

Which of the following refers to any disparity in relevant market information among parties in a transaction?

information asymmetry

Which of the following is a physical place you visit in order to transact?

marketplace

The costs incurred by merchants in having to change product prices (such as the costs of reentering prices into computer systems) are referred to as which of the following?

menu costs

The total number of users or customers an e-commerce business can obtain is a measure of which of the following?

reach

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, text?

richness

Which of the following refers to the complexity and content of a message?

richness

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 is the best definition of transaction cost?

the cost of participating in the market

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

the enabling of two-way communication between consumer and merchant

E-commerce can be defined as:

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

E-commerce is available just about everywhere and anytime. This is known as ________.

ubiquity

Which of the following features of e-commerce technology is related to the concept of network externalities?

universal standards