TIF_9780273761389_02

Exam Name___________________________________ 1. Eastern Mountain Sports uses Web 2.0 tools to increase collaboration, information sharing, and communication among their employees, suppliers, and customers. Answer:

True False

Diff: 2

Type: TF Page Ref: 80 AACSB: Objective:

2. A dashboard is a graphical display of performance results. Answer:

True False

Diff: 1


3. Intermediation is the process of buying materials, products, and services directly from suppliers, distributors, or the government. Answer: True

False

Diff: 3


4. Dynamic pricing is the most common way customers purchase items online. Answer: True

False

Diff: 2


5. The emergence of electronic marketplaces has resulted in lower information search time and costs for buyers. Answer:

True False

Diff: 1


6.

In marketing, an intermediary is a third party that operates between manufacturers and buyers. Intermediaries of all kinds offer their services on the Web. Answer:

True False

Diff: 2


7. Individuals are the largest consumers, accounting for more than 85 percent of EC volume and value activities. Answer: True

False

Diff: 2


8. Disintermediation is the elimination of intermediaries between sellers and buyers. Answer:

True False Type: TF

Diff: 2

Page Ref: 87 AACSB: Objective:

9. Travelers using airline Web sites to book their flights directly, without the use of travel agents, is resulting in the reintermediation of travel agents. Answer: True

False

Diff: 3


10. A single-sided e-marketplace is a private e-marketplace in which one company makes purchases from invited suppliers. Answer: True

False

Diff: 2


11. Private and public are two types of e-marketplaces. Answer:

True False

Diff: 1


12. Electronic storefronts, Internet malls, and exchanges are major B2B e-marketplaces. Answer: True

False

Diff: 1


13. Microsite refers to a page or pages that are meant to function as an auxiliary supplement to a primary website. Answer:

True False

Diff: 1


14. A Web portal is a single point of access, through a Web browser, to critical business information loaded inside and outside (via Internet) an organization. Answer:

True False

Diff: 2


15. Pure-play stores sell only one or a few kinds of products. Answer: True

False

Diff: 2


16. A widget is an element of user interface that displays an information arrangement changeable by the user, such as a window. Answer:

True False

Diff: 2 Type: TF Page Ref: 91 AACSB: Objective:

17. The two major types of online intermediaries are infomediaries and negotiators. Answer: True

False

Diff: 2


18. A shopping facilitator is a type of broker and helps consumers compare prices and service at different stores. Answer: True

False

Diff: 2


19. WebMD, which is the largest U.S. medical services company, is known mainly for its webmd.com consumer portal, but its

core business is being an e-intermediary. Answer:

True False

Diff: 1


20. A desktop search is conducted by tools that search only the contents of the user's own computer files. Answer:

True False

Diff: 1


21. Search engines not only "search and match," but also have capabilities that can be used to perform routine tasks that require intelligence. Answer: True

False Type: TF

Diff: 1


22. Shopping carts for B2B are fairly simple, but a shopping cart for B2C may be more complex. Answer: True

False

Diff: 2


23. An electronic shopping cart is an order-processing technology that allows customers to accumulate items they wish to buy while they continue to shop. Answer:

True False

Diff: 1


24. An auction is a competitive process and market mechanism that uses a competitive process by which a seller solicits consecutive bids from buyers or a buyer solicits bids from sellers. Answer:

True False

Diff: 1


25. Forward auctions are bidding or tendering systems in which the buyer places an item for bid on a request for quote (RFQ) system; then potential suppliers bid on the job, with the price reducing sequentially, and the lowest bid wins. Answer: True

False

Diff: 3


26. Reverse auctions are primarily B2C. Answer: True

False

Diff: 2


27. English and Yankee are the two major types of double auctions. Answer: True

False

Diff: 2


28. E-auctions are becoming less important selling and buying channels for companies and individuals. Answer: True

False

Diff: 1


29. The major limitations of e-auctions are minimal security, possibility of fraud, and a limited participation. Answer:

True False

Diff: 2 Type: TF Page Ref: 102 AACSB: Objective:

30. A limitation of e-bartering for businesses is that excess capacity items such as office space, storage, factory space, idle facilities, and labor cannot be bartered. Answer: True

False

Diff: 2


31. Bartering is the exchange of goods and services. Answer:

True False

Diff: 1


32.

Twitter is a free microblogging service that allows its users to send and read other users' updates. Answer:

True False

Diff: 1


33. E-marketplaces, shopping carts, e-catalogs, and auctions are the major Web 2.0 mechanisms. Answer: True

False

Diff: 3


34. An auction is the most popular type of virtual community. Answer: True

False

Diff: 1

Type: TF Page Ref: 114

AACSB: Objective:

35. Net neutrality is a big advantage of Web 3.0. Answer: True

False

Diff: 2


36. The entertainment EC activity is supported by A)

electronic markets. B) e-auctions.

C)

Web 2.0 tools. D)

storefronts. Answer: C

Diff: 2

Type: MC Page Ref: 82 AACSB: Objective:

37. EC activities include A)

trading, buy, sell, and exchange. B) improve performance. C)

communicate, collaborate, and learn. D)

all of the above. Answer: D

Diff: 1


38. Traditional and electronic markets have three main functions, which include each of the following except A)

providing an institutional infrastructure, such as a legal and regulatory framework that enables the efficient functioning of the market. B) financing the transformation of raw materials into finished products. C)

matching buyers and sellers. D)

facilitating the exchange of information, goods, services, and payments associated with market transactions. Answer: B

Diff: 1

Type: MC Page Ref: 84 AACSB: Use of information technology Objective:

39. An online market, usually B2B, in which buyers and sellers exchange goods or services best defines A)

cyberstore.

auction site.

B)

C)

cybermarket. D)

e-marketplace. Answer: D

Diff: 2


40. The emergence of electronic marketplaces changed several of the processes used in trading and supply chains including A)

the ability for EC to leverage capabilities with increased effectiveness and lower transaction and distribution costs, leading to more efficient "friction-free" markets.

B) lowering information search time and cost for buyers. C)

the ability of buyers, sellers, and the virtual market to each be in a different location. D)


Diff: 2


41. The portion of an e-seller's business through which customers interact, including the seller's portal, electronic catalogs, shopping cart, and payment gateway is referred to as the ________ of the business. A)

front end

B)

intermediary C)

infrastructure D)

back end

A

Answer:

Diff: 2


42. Each of the following is a major component and player in a marketspace except A)

auctions.

B)

products and services. C)

front end.

D)

infrastructure. Answer: A

Diff: 3


43. Activities related to order aggregation and fulfillment, inventory management, purchasing from suppliers, accounting and finance, packaging, and delivery are done in what is termed the ________ of the business. A)

back end

front end

B)

C)

intermediary D)

infrastructure Answer: A

Diff: 2


44. The elimination of various types of agents that mediate between buyers and sellers, such as travel and insurance agents, is referred to as A)

automation.

B)

disintermediation. C)

e-distribution. D)

remediation. Answer: B

Diff: 2


45. A private e-marketplace in which one company sells either standard and/or customized products to qualified companies best defines A)

buy-side e-marketplace. B) Webstore.

C)

sell-side e-marketplace. D)

hidden e-marketplace. Answer: C

Diff: 2


46. Online markets that are owned and operated by a single company and that are either sell-side or buy-side are known as A)

B2B marketplaces. B) commercial portals. C)

e-malls.

D)

private e-marketplaces. Answer: D

Diff: 2


47. Each of the following is a true statement about public e-marketplaces except A)

public marketplaces are not regulated by the government. B) public marketplaces are often owned by a third party. C)

public marketplaces are usually B2B markets. D)

public marketplaces serve many sellers and buyers. Answer: A

Diff: 3


48. The major ________ mechanisms are storefronts and Internet malls. A)

C2B

B2B2C

B2B

B2C

B)

C)

D)

Answer: D

Diff: 3


49. An electronic storefront includes several mechanisms that are needed for conducting the sale. The most common mechanisms include each of the following except A)

electronic catalog. B) supply chain. C)

search engine. D)

payment gateway. Answer: B

Diff: 2


50. Types of stores and malls include A)

pure-play stores. B)

general stores/malls. C)

specialized stores/malls. D)


Diff: 1


51. A(n) ________ is a single point of access, through a Web browser, to critical business information located inside and outside (via Internet) an organization. A)

search engine B) browser

C)

Web portal

D)

intermediary Answer: C

Diff: 2


52. Electronic intermediaries that provide and/or control information flow in cyberspace, often aggregating information and selling it to others, best defines A)

Webstore.

B)

metamediary. C)

infomediaries. D)

knowledge managers. Answer: C

Diff: 2


53. An e-commerce intermediary that connects manufacturers with business buyers (customers) by aggregating the catalogs of many manufacturers in one place best describes A)

electronic catalog. B) metamediary. C)

e-distributor. D)

broker.

Answer: C

Diff: 2


54. The practice of identifying and enabling specific content across the enterprise to be indexed, searched, and displayed to authorized users best describes A)

desktop search. B) portal search. C)

enterprise search. D)

web search. Answer: C

Diff: 2


55. Which is not a popular search engine? A)

Lycos

B)

AltaVista

Google

Linux

C)

D)

Answer:

D

Diff: 1


56. An order-processing technology that allows customers to accumulate items they wish to buy while they continue to shop best defines A)

electronic shopping cart. B) e-fulfillment agent. C)

mobile portal. D)

intelligent agent. Answer: A

Diff: 2


57. Prices that change based on supply and demand relationships at any given time best defines A)

dynamic pricing. B) pre-shopping. C)

negotiation.

D)

commodity pricing. Answer: A

Diff: 2


58. An auction in which a seller entertains bids from buyers, and the bidders increase price sequentially best defines A)

reverse auctions. B) bidding auction system. C)

tendering system. D)

forward auctions. Answer:

D

Diff: 2


59. An auction in which the buyer places an item for bid on a request for quote system, potential suppliers bid on the job, with the price reducing sequentially, and the lowest bid wins; this describes A)

reverse auctions. B) bidding auction system. C)

tendering system. D)

forward auctions. Answer: A

Diff: 3


60. An auction in which multiple buyers and their bidding prices are matched with multiple sellers and their asking prices, considering the quantities on both sides best defines A)

forward auction. B)

penny auction. C)

double auction. D)

reverse auction. Answer: C

Diff: 2


61. A formal auction in which participants pay a nonrefundable small fee for each bid, and the bid level changes by small increments. This defines A)

penny auction. B) reverse auction. C)

forward auction. D)

charge-by-bid auction. Answer: A

Diff: 2


62. Benefits of e-auctions to sellers include A)

convenience of bidding anywhere and any time. B) lack of differentiation. C)

optimal price is determined by the market. D)

anonymity. Answer: C

Diff: 2


63. Benefits of e-auctions to buyers include A)

opportunities to find unique items. B) optimal price setting determined by the market. C)

higher repeat purchases. D)

liquidating large quantities quickly. Answer:

A

Diff: 3


64. A marketplace in which an intermediary arranges barter transactions best defines A)

blog.

B)

forward auction. C)

bartering exchange. D)

Web portal. Answer: C

Diff: 2


65. Which of the following is a social software tool? A)

shopping carts B) blogs

C)

auctions

e-catalogs

B

D)

Answer:

Diff: 2


66. A combination of two or more websites into a single website that provides the content of both sites to deliver a novel product to consumers best defines A)

wiki.

B)

blog.

C)

mashup.

podcast.

C

D)

Answer:

Diff: 2


67.

A method for Internet users to store, organize, search, and manage bookmarks of Web pages on the Internet with the help of metadata best defines A)

tagging.

B)

intermediating. C)

social bookmarking. D)

filtering.

C

Answer:

Diff: 3


68. The practice and method of collaboratively creating, classifying, and managing tags to annotate and categorize content best defines A)

folksonomy.

mashup.

tweeting.

B)

C)

D)

social bookmarking. Answer: A


69. Which of the following was Stormhoek Winery's successful marketing campaign that had volunteers, over a series of days, host dinners that included tasting Stormhoek wine? A)

Stormhoek's No Grape Before It's Time Wine Tasting Event B) Stormhoek's Friends, Dinner, and Wine. C)

100 Geek Dinners in 100 Days. D)

Stormhoek's May Wine Days. Answer: C

Diff: 3


70. Types of virtual communities include each of the following except A)

virtual worlds. B) relations or practices. C)

mashups.

D)

social networks. Answer: C

Diff: 3


71. Which of the following refers to communities organized by interest, such as hobbies, technical topic, vocations, political parties, or trade unions? A)

affinity portals B) virtual worlds C)

association portals D)

communities of practice Answer: A

Diff: 2

Type: MC Page Ref: 112-113 AACSB: Objective:

72. Facebook, LinkedIn, and catster.com are examples of

A)

virtual worlds. B) social network sites. C)

communities of practice. D)

gender communities. Answer: B

Diff: 2


73. Which of the following is a global, multilanguage, social network popular in Asia and parts of Europe, Africa, and South America? A)

Hi5.com

Iwiw.net

B)

C)

Friendsreunited.co.uk D)

Piczo.com

A

Answer:

Diff: 3

Type: MC Page Ref: 114-115 AACSB: Objective:

74. Capabilities and services provided by social networking sites include A)

discussion forums. B) viewing and sharing photos, videos, and documents. C)

blogs for discussion and dissemination of information. D)


Diff: 1


75. A virtual world is A)

a combination of two or more websites into a single website that provides the content of both sites to deliver a novel product to consumers. B) a user-defined world in which people can interact, play, and do business. C)

a single point of access, through a Web browser, to critical business information located inside and outside (via Internet) an organization. D)

a social network whose major interest is business topics. Answer: B

Diff: 2


76. Types of business activities in virtual worlds include each of the following except A)

providing services for those who build, manage, or make money with virtual properties. B) operating a bed and breakfast in Nova Scotia. C)

conducting regular business activities. D)

creating and managing a virtual business. Answer: B

Diff: 2


77. Which of the following consists of the creation of high-quality content and services produced by gifted individuals using

Web 2.0 technology as an enabling platform and is used to describe the future of the World Wide Web? A)

Web 5.0

Level 2.0

Web 4.0

Web 3.0

D

B)

C)

D)

Answer:

Diff: 2


78. An evolving extension of the Web in which Web content can be expressed not only in natural language, but also in a form that can be understood, interpreted, and used by intelligent computer software agents, permitting them to find, share, and integrate information more easily describes A)

Web 2.0.

B)

Semantic Web. C)

Camelot Web. D)

Web 4.0.

B

Answer:

Diff: 2 Type: MC Page Ref: 122 AACSB: Objective:

79. Concerns about Web 3.0 implementation and the future of EC include A)

lack of net neutrality. B) the use of 3-D tools. C)

ownership.

D)

wiring for a sustainable world. Answer: A

Diff: 3


80. McKinsey and Company's trend predictions include(s) A)

imagining anything as a service. B) distributed cocreation moves into the mainstream. C)

innovation coming from the bottom of the pyramid. D)


Diff: 3


81. List three ways in which electronic marketplaces have changed the processes used in trading and supply chains. Answer: Changes resulting from electronic marketplaces include greater information richness of the transactional and relational environment, lower information search costs for buyers, diminished information asymmetry between sellers and buyers, less time between purchase and possession of physical products purchased in the e-marketplace, greater temporal proximity between time of purchase and time of possession of digital products purchased in the e-marketplace, the ability of buyers and sellers to be in different locations, and the ability for EC to leverage capabilities with increased effectiveness and lower transaction and distribution costs. Diff: 2 Type: ES Page Ref: 85 AACSB: Objective:

82. Define marketspace. Identify the major components and players in the marketspace. Answer: A marketspace is where sellers and buyers can electronically exchange goods and services for money. The major components and players include customers, sellers, products and services, infrastructure, front end, back end, and intermediaries. Diff: 2

Type: ES Page Ref: 86 AACSB:

Objective:

83. Briefly discuss four mechanism aids for Web 2.0 tools. Answer: Tags, folksonomy, mashups, and social bookmarks are four mechanism aids for Web 2.0 tools. A tag is a nonhierarchical key word or term assigned to a piece of information. Folksonomy is the practice and method of collaboratively creating, classifying, and managing tags to annotate and categorize content. Mashup refers to the combination of two or more websites into a single website that provides the content of both sites. Social bookmarking is a Web service for sharing Internet bookmarks. Diff: 2

Type: ES Page Ref: 109-110 AACSB: Objective:

84. Identify seven concerns regarding the implementation of Web 3.0 and the future of EC. Answer: Future threats, security concerns, lack of Net neutrality, copyright complaints, choppy connectivity, language fitness, and standards are seven concerns regarding the implementation of Web 3.0 and the future of EC. Diff: 2

Type: ES Page Ref: 123-124 AACSB: Objective:

85. List five of McKinsey and Company's predictions about the future of EC, Web 3.0, and Semantic Web. Answer: McKinsey and Company identified ten trends including distributed cocreation moves into the mainstream, making the network the organization, collaboration at scale, the growing "Internet of Things," experimentation and big data, wiring for a sustainable world, imagining anything as a service, the age of the multisided business model, innovation coming from the bottom of the pyramid, and producing public good on the information grid. Diff: 3

Type: ES


1. TRUE

2. TRUE

3. FALSE

4. FALSE

5. TRUE

6. TRUE

7. FALSE

8. TRUE

9. FALSE

10. FALSE

11. TRUE

12. FALSE

13. TRUE

14. TRUE

15. FALSE

16. TRUE

17. FALSE

18. FALSE

19. TRUE

20. TRUE

21.

FALSE

22. FALSE

23. TRUE

24. TRUE

25. FALSE

26. FALSE

27. FALSE

28. FALSE

29. TRUE

30. FALSE

31. TRUE

32. TRUE

33. FALSE

34. FALSE

35. FALSE

36. C

37. D

38. B

39. D

40. D

41. A

42. A

43. A

44. B

45. C

46. D

47. A

48. D

49. B

50. D

51. C

52. C

53. C

54. C

55. D

56. A

57. A

58. D

59. A

60. C

61. A

62.

C

63. A

64. C

65. B

66. C

67. C

68. A

69. C

70. C

71. A

72. B

73. A

74. D

75. B

76. B

77. D

78. B

79. A

80. D

81. Changes resulting from electronic marketplaces include greater information richness of the transactional and relational environment, lower information search costs for buyers, diminished information asymmetry between sellers and buyers, less time between purchase and possession of physical products purchased in the e-marketplace, greater temporal proximity between time of purchase and time of possession of digital products purchased in the e-marketplace, the ability of buyers and sellers to be in different locations, and the ability for EC to leverage capabilities with increased effectiveness and lower transaction and distribution costs.

82. A marketspace is where sellers and buyers can electronically exchange goods and services for money. The major components and players include customers, sellers, products and services, infrastructure, front end, back end, and intermediaries.

83. Tags, folksonomy, mashups, and social bookmarks are four mechanism aids for Web 2.0 tools. A tag is a nonhierarchical key word or term assigned to a piece of information. Folksonomy is the practice and method of collaboratively creating, classifying, and managing tags to annotate and categorize content. Mashup refers to the combination of two or more websites into a single website that provides the content of both sites. Social bookmarking is a Web service for sharing Internet bookmarks.

84. Future threats, security concerns, lack of Net neutrality, copyright complaints, choppy connectivity, language fitness, and standards are seven concerns regarding the implementation of Web 3.0 and the future of EC.

85. McKinsey and Company identified ten trends including distributed cocreation moves into the mainstream, making the network the organization, collaboration at scale, the growing "Internet of Things," experimentation and big data, wiring for a sustainable world, imagining anything as a service, the age of the multisided business model, innovation coming from the bottom of the pyramid, and producing public good on the information grid.

TIF_9780273761389_02

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