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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
20) A desktop search is conducted by tools that search only the contents of the user's own
computer files.
Answer: TRUE
Diff: 1 Page Ref: 61
21) Search engines not only "search and match," but also have capabilities that can be used to
perform routine tasks that require intelligence.
Answer: FALSE
Diff: 1 Page Ref: 62
22) Shopping carts for B2B are fairly simple, but a shopping cart for B2C may be more complex.
Answer: FALSE
Diff: 2 Page Ref: 63
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
Diff: 1 Page Ref: 63
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
Diff: 1 Page Ref: 64
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: FALSE
Diff: 3 Page Ref: 66
26) Reverse auctions are primarily B2C.
Answer: FALSE
Diff: 2 Page Ref: 66
27) English and Yankee are the two major types of double auctions.
Answer: FALSE
Diff: 2 Page Ref: 66
28) E-auctions are becoming less important selling and buying channels for companies and
individuals.
Answer: FALSE
Diff: 1 Page Ref: 67
29) The major limitations of e-auctions are minimal security, possibility of fraud, and a limited
participation.
Answer: TRUE
Diff: 2 Page Ref: 68
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
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: FALSE
Diff: 2 Page Ref: 69
31) Bartering is the exchange of goods and services.
Answer: TRUE
Diff: 1 Page Ref: 69
32) Twitter is a free microblogging service that allows its users to send and read other users'
updates.
Answer: TRUE
Diff: 1 Page Ref: 73
33) E-marketplaces, shopping carts, e-catalogs, and auctions are the major Web 2.0 mechanisms.
Answer: FALSE
Diff: 3 Page Ref: 75
34) An auction is the most popular type of virtual community.
Answer: FALSE
Diff: 1 Page Ref: 80
35) Net neutrality is a big advantage of Web 3.0.
Answer: FALSE
Diff: 2 Page Ref: 89
2.2 Multiple Choice
1) The entertainment EC activity is supported by
A) Web 2.0 tools.
B) e-auctions.
C) electronic markets.
D) storefronts.
Answer: A
Diff: 2 Page Ref: 48
2) EC activities include
A) trading, buy, sell, and exchange.
B) communicate, collaborate, and learn.
C) improve performance.
D) all of the above.
Answer: D
Diff: 1 Page Ref: 48
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
3) Traditional and electronic markets have three main functions, which include each of the
following except
A) matching buyers and sellers.
B) facilitating the exchange of information, goods, services, and payments associated with
market transactions.
C) financing the transformation of raw materials into finished products.
D) providing an institutional infrastructure, such as a legal and regulatory framework that
enables the efficient functioning of the market.
Answer: C
Diff: 1 Page Ref: 50
AACSB: Use of information technology
4) An online market, usually B2B, in which buyers and sellers exchange goods or services best
defines
A) cybermarket.
B) e-marketplace.
C) auction site.
D) cyberstore.
Answer: B
Diff: 2 Page Ref: 51
5) The emergence of electronic marketplaces changed several of the processes used in trading
and supply chains including
A) lowering information search time and cost for buyers.
B) the ability of buyers, sellers, and the virtual market to each be in a different location.
C) the ability for EC to leverage capabilities with increased effectiveness and lower transaction
and distribution costs, leading to more efficient "friction-free" markets.
D) all of the above.
Answer: D
Diff: 2 Page Ref: 51
6) 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) back end
C) infrastructure
D) intermediary
Answer: A
Diff: 2 Page Ref: 52
AACSB: Use of information technology
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
12) Each of the following is a true statement about public e-marketplaces except
A) public marketplaces are usually B2B markets.
B) public marketplaces are often owned by a third party.
C) public marketplaces are not regulated by the government.
D) public marketplaces serve many sellers and buyers.
Answer: C
Diff: 3 Page Ref: 54
13) The major ________ mechanisms are storefronts and Internet malls.
A) B2B
B) C2B
C) B2B2C
D) B2C
Answer: D
Diff: 3 Page Ref: 55
AACSB: Use of information technology
14) 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) search engine.
C) supply chain.
D) payment gateway.
Answer: C
Diff: 2 Page Ref: 55
AACSB: Use of information technology
15) Types of stores and malls include
A) general stores/malls.
B) specialized stores/malls.
C) pure-play stores.
D) all of the above.
Answer: D
Diff: 1 Page Ref: 56
16) 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) browser
B) intermediary
C) Web portal
D) search engine
Answer: C
Diff: 2 Page Ref: 56
AACSB: Use of information technology
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
17) Electronic intermediaries that provide and/or control information flow in cyberspace, often
aggregating information and selling it to others, best defines
A) infomediaries.
B) knowledge managers.
C) metamediary.
D) Webstore.
Answer: A
Diff: 2 Page Ref: 58
18) 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) e-distributor.
C) metamediary.
D) broker.
Answer: B
Diff: 2 Page Ref: 60
19) 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) enterprise search.
C) web search.
D) portal search.
Answer: B
Diff: 2 Page Ref: 61
20) Which is not a popular search engine?
A) Google
B) Linux
C) AltaVista
D) Lycos
Answer: B
Diff: 1 Page Ref: 62
AACSB: Use of information technology
21) An order-processing technology that allows customers to accumulate items they wish to buy
while they continue to shop best defines
A) intelligent agent.
B) e-fulfillment agent.
C) electronic shopping cart.
D) mobile portal.
Answer: C
Diff: 2 Page Ref: 63
AACSB: Use of information technology
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
22) Prices that change based on supply and demand relationships at any given time best defines
A) dynamic pricing.
B) commodity pricing.
C) pre-shopping.
D) negotiation.
Answer: A
Diff: 2 Page Ref: 64
AACSB: Use of information technology
23) An auction in which a seller entertains bids from buyers, and the bidders increase price
sequentially best defines
A) forward auctions.
B) reverse auctions.
C) bidding auction system.
D) tendering system.
Answer: A
Diff: 2 Page Ref: 66
AACSB: Use of information technology
24) 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) forward auctions.
B) reverse auctions.
C) bidding auction system.
D) tendering system.
Answer: B
Diff: 3 Page Ref: 66
AACSB: Use of information technology
25) 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) reverse auction.
C) double auction.
D) penny auction.
Answer: C
Diff: 2 Page Ref: 67
26) 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) reverse auction.
B) charge-by-bid auction.
C) forward auction.
D) penny auction.
Answer: D
Diff: 2 Page Ref: 67
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
32) 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) filtering.
C) social bookmarking.
D) intermediating.
Answer: C
Diff: 3 Page Ref: 76
33) The practice and method of collaboratively creating, classifying, and managing tags to
annotate and categorize content best defines
A) mashup.
B) tweeting.
C) social bookmarking.
D) folksonomy.
Answer: D
Diff: 3 Page Ref: 76
34) 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) 100 Geek Dinners in 100 Days.
B) Stormhoek's May Wine Days.
C) Stormhoek's Friends, Dinner, and Wine.
D) Stormhoek's No Grape Before It's Time Wine Tasting Event
Answer: A
Diff: 3 Page Ref: 77
35) Types of virtual communities include each of the following except
A) relations or practices.
B) virtual worlds.
C) mashups.
D) social networks.
Answer: C
Diff: 3 Page Ref: 78
36) Which of the following refers to communities organized by interest, such as hobbies,
technical topic, vocations, political parties, or trade unions?
A) association portals
B) affinity portals
C) communities of practice
D) virtual worlds
Answer: B
Diff: 2 Page Ref: 78-79
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
42) 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) Level 2.0
B) Web 4.0
C) Web 3.0
D) Web 5.0
Answer: C
Diff: 2 Page Ref: 87
43) 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 4.0.
B) Camelot Web.
C) Web 2.0.
D) Semantic Web.
Answer: D
Diff: 2 Page Ref: 88
44) Concerns about Web 3.0 implementation and the future of EC include
A) lack of net neutrality.
B) wiring for a sustainable world.
C) the use of 3-D tools.
D) ownership.
Answer: A
Diff: 3 Page Ref: 89
45) McKinsey and Company's trend predictions include(s)
A) distributed cocreation moves into the mainstream.
B) imagining anything as a service.
C) innovation coming from the bottom of the pyramid.
D) all of the above.
Answer: D
Diff: 3 Page Ref: 90
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
2.3 Essay
1) 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 emarketplace, 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 Page Ref: 51
2) 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 Page Ref: 52
3) 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 Page Ref: 75-76
4) 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 Page Ref: 89-90
5) 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 Page Ref: 90
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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall