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