MIS 412--Chapter 11
All of the following have the quality of neutrality except:
reverse auctions
Which of the following is not a characteristic of a reverse auction?
seller bias
All of the following are solutions to the problem of high monitoring costs except:
seller rating systems
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?
seller's lament
When there are few sellers but many buyers, a market will typically be:
seller-biased
Which of the following involves e-mailing another seller's bidders and offering the same product for less?
bid siphoning
The stock market is an example of a(n):
double auction
MSN is an example of a:
general purpose portal
A Web site designed to give parents of home-schooled children a common discussion area would be classified as a(n):
interest-based social network
Which of the following is not one of the top factors a business should consider when planning an Internet auction?
location of auction
Which of the following allows the consumer to enter a maximum price and the auction software automatically bids up the goods to that maximum price in small increments?
proxy bidding
Which of the following is not one of the typical portal revenue sources?
referral fees
In 2011, the total worth of goods sold on eBay was approximately ________.
$68 billion
Which of the following is an example of a specialized auction site?
BidZ
All of the following types of auctions involve single units except:
Dutch-Internet
A(n) ________, in which the highest bidder wins, is the most common form of auction.
English auction
All of the following types of auctions have a buyer bias except:
English auction
The world's leading portal/search engine site, in terms of unique visitors, is:
________ is the tendency to gravitate toward, and bid for, auction listings with one or more existing bids.
Herd behavior
One of the first online virtual communities was:
The Well
All of the following statements are true except:
The market leader in C2C auctions is Craigslist.
All of the following statements about social networks are true except:
Yahoo visitors spend more than twice as much time on Yahoo as Facebook visitors spend on Facebook.
Which of the following is a common problem in sealed bid markets?
big rigging
A market that has many sellers and one or few buyers is likely to be:
buyer-biased
All of the following are benefits of auctions except:
decreased price transparency
All of the following types of auctions have a seller bias except:
double auction
Which of the following types of auctions offers a neutral marketplace, without buyer or seller bias?
double auction
In ________ pricing, customers change their offers to buy based on both their perceptions of the seller's desire to sell and their own need for the product.
dynamic
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.
equipment
Threatening negative feedback in return for a benefit is an example of:
feedback extortion
Facebook is an example of a(n):
general community/social network
Which social network functionality allows users to easily post messages to the entire community?
message board
Which of the following was a primary feature of early online communities?
message boards
Which of the following is not a characteristic of a Japanese auction?
multiple units
Priceline.com is an example of a(n):
name your own price auction
All of the following are situations in which markets fail to produce socially desirable outcomes except:
network effects
Which of the following types of dynamic pricing adjusts prices based on the merchant's estimate of how much the customer truly values the product?
personalization
When sellers agree informally or formally to set floor prices below which they will not sell on auction items, this is known as:
price matching
Which of the following is not a risk or cost of Internet auctions?
price transparency
Elance.com is an example of a(n):
professional service auction
Which social network functionality allows users to create Web pages that describe themselves?
profiles
Portals compete with one another on:
reach and unique visitors
Adjusting the annual cost of automobile insurance based on mileage driven is an example of ________ pricing.
utilization
________ pricing adjusts prices based on the location of the consumer.
Trigger
Which of the following is not a true statement?
Auctions eliminate inter-market price differences
The profit a seller makes at auction is a function of all of the following except:
bid increments
Which of the following statements illustrates the network effects that portals are subject to?
The value of the portal to advertisers and consumers increases geometrically as reach increases.
Which of the following is a community of members who self-identify with a demographic or geographic category?
affinity community
iVillage.com is an example of a(n):
affinity community
Which of the following is not one of the three defining characteristics of a portal?
auctions
