Quiz 11
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
In 2011, the total worth of goods sold on eBay was approximately ________.
$68 billion
All of the following types of auctions involve single units except:
Dutch-Internet.
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.
The stock market is an example of a(n):
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 of the following was a primary feature of early online communities?
message boards
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
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
Portals compete with one another on:
reach and unique visitors.
The profit a seller makes at auction is a function of all of the following except:
bid increments.
Which of the following is a common problem in sealed bid markets?
bid rigging
Which of the following is an example of a specialized auction site?
BidZ
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.
________ pricing adjusts prices based on the location of the consumer.
Trigger
Which of the following is a community of members who self-identify with a demographic or geographic category?
affinity community
Which of the following is not one of the three defining characteristics of a portal?
auctions