Question 1

Auction prices are always lower than prices in fixed priced markets.

Accepted Answer

A) True 
 B)False

Question 2

________ refers to the use of secondary user IDs or bidders who have no actual intention to buy to artificially raise the price of an item.

Accepted Answer

The answer of ________ refers to the use of secondary...

Question 3

Define the term auction and explain the four major Internet auction types discussed in the chapter and how they function.

Accepted Answer

Auctions are dynamic pricing markets in ...

Question 4

One of the first online virtual communities was:

Accepted Answer

A)  The Well.
B)  Myspace.
C)  AOL.
D)  Salon.com.E) None of the above
F) B) and C)

Question 5

A(n) ________, in which the highest bidder wins, is the most common form of auction.

Accepted Answer

A)  Dutch Internet auction
B)  Japanese auction
C)  English auction
D)  reverse auctionE) A) and B)
F) A) and C)

Question 6

Priceline's auctions are seller-biased.

Accepted Answer

A) True 
 B)False

Question 7

All of the following statements are true except:

Accepted Answer

A)  in auctions, prices may be variable or fixed.
B)  auctions constituted a significant part of B2B e-commerce in 2013.
C)  over a third of procurement officers use auctions to procure goods.
D)  online retail sites are adding auctions to their sites.E) A) and B)
F) All of the above

Question 8

Which of the following statements illustrates the network effects that portals are subject to?

Accepted Answer

A)  Specialized vertical market portals attract only 2-10% of the audience, while a few large megaportals garner most of the market.
B)  The value of the portal to advertisers and consumers increases geometrically as reach increases.
C)  The greater the amount of content provided by a portal, the greater its value to the community.
D)  The greater number of portals available, the greater the potential audience for each.E) All of the above
F) B) and C)

Question 9

Howard Rheingold, one of The Well's early participants, coined the term ________ to refer to "cultural aggregations that emerge when enough people bump into each other often enough in cyberspace."

Accepted Answer

The answer of Howard Rheingold, one of The Well's early...

Question 10

The average user spends more time on Google+ than on Facebook.

Accepted Answer

A) True 
 B)False

Question 11

MSN is an example of a:

Accepted Answer

A)  general purpose portal.
B)  vertical market portal based on affinity group.
C)  vertical market portal based on focused content.
D)  focused content search engine.E) None of the above
F) A) and B)

Question 12

Consumers in auctions are driven solely by value maximization.

Accepted Answer

A) True 
 B)False

Question 13

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?

Accepted Answer

A)  personalization
B)  trigger
C)  utilization
D)  fixedE) B) and C)
F) All of the above

Question 14

All of the following types of auctions involve single units except:

Accepted Answer

A)  English auction.
B)  Dutch Internet.
C)  Japanese auction.
D)  Vickrey auction.E) All of the above
F) None of the above

Question 15

Which of the following is a community of members who self-identify with a demographic or geographic category?

Accepted Answer

A)  practice network
B)  sponsored community
C)  affinity community
D)  interest-based social networkE) None of the above
F) All of the above

Question 16

Most of today's well-known portals began as search engines.

Accepted Answer

A) True 
 B)False

Question 17

What are the benefits of Internet auctions to sellers, buyers, and market makers in an auction?

Accepted Answer

The general benefits of auctions to sell...

Question 18

Around what percentage of Internet users in the United States use social networks on a regular basis?

Accepted Answer

A)  25 %
B)  33%
C)  50%
D)  67%E) All of the above
F) A) and B)

Question 19

A market that has many sellers and one or few buyers is likely to be:

Accepted Answer

A)  market neutral.
B)  seller-biased.
C)  buyer-biased.
D)  both seller- and buyer-biased.E) B) and C)
F) A) and C)

Question 20

Which of the following is not a risk or cost of Internet auctions?

Accepted Answer

A)  delayed consumption costs
B)  equipment costs
C)  price transparency
D)  trust risksE) A) and C)
F) A) and B)

Exam 11: Social Networks, Auctions, and Portals

MSN is an example of a:

Correct AnswerverifiedShow Answer

All of the following statements are true except:

Correct AnswerverifiedShow Answer

Define the term auction and explain the four major Internet auction types discussed in the chapter and how they function.

Correct AnswerverifiedAuctions are dynamic pricing markets in ...View AnswerShow Answer

Auction prices are always lower than prices in fixed priced markets.

Correct AnswerverifiedShow Answer

What are the benefits of Internet auctions to sellers, buyers, and market makers in an auction?

Correct AnswerverifiedThe general benefits of auctions to sell...View AnswerShow Answer

Which of the following is not a risk or cost of Internet auctions?

Correct AnswerverifiedShow Answer

Consumers in auctions are driven solely by value maximization.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

A market that has many sellers and one or few buyers is likely to be:

Correct AnswerverifiedShow Answer

________ refers to the use of secondary user IDs or bidders who have no actual intention to buy to artificially raise the price of an item.

Correct AnswerverifiedShow Answer

All of the following types of auctions involve single units except:

Correct AnswerverifiedShow Answer

One of the first online virtual communities was:

Correct AnswerverifiedShow Answer

Around what percentage of Internet users in the United States use social networks on a regular basis?

Correct AnswerverifiedShow Answer

Priceline's auctions are seller-biased.

Correct AnswerverifiedShow Answer

Most of today's well-known portals began as search engines.

Correct AnswerverifiedShow Answer

A(n) ________, in which the highest bidder wins, is the most common form of auction.

Correct AnswerverifiedShow Answer

Which of the following statements illustrates the network effects that portals are subject to?

Correct AnswerverifiedShow Answer

Howard Rheingold, one of The Well's early participants, coined the term ________ to refer to "cultural aggregations that emerge when enough people bump into each other often enough in cyberspace."

Correct AnswerverifiedShow Answer

The average user spends more time on Google+ than on Facebook.

Correct AnswerverifiedShow Answer

Which of the following is a community of members who self-identify with a demographic or geographic category?

Correct AnswerverifiedShow Answer

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Auctions are dynamic pricing markets in ...
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The general benefits of auctions to sell...
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