1) What event marked the beginning of e-commerce? A) The first product sold online

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1) What event marked the beginning of e-commerce?

1. 1. A) The first product sold online.
   2. B) The first domain name registered.
   3. C) The first e-mail sent.
   4. D) The first paid advertisements placed on a website.
   5. E) The first product advertised online.

 

2. All of the following are examples of “on demand” companies except:

 

1. 1. A) Uber
   2. B) Airbnb
   3. C) Lyft
   4. D) Instacart
   5. E) Instagram

 

3. A marketplace extended beyond traditional boundaries and removed from a temporal and geographic location is called a(n):

 

3. 1. A) exchange.
   2. B) marketspace.
   3. C) online marketplace.
   4. D) e-hub.
   5. E) Net marketplace.
4. When did e-commerce begin?

1.                A) 1965

2.                B) 1983

3.                C) 1995

4.                D) 1999

5.                E) 2000

 

5. What standards are referred to when discussing universal standards as a unique feature of e-commerce?

 

5. 1. A) Internet technology standards
   2. B) Common spoken and written languages
   3. C) Universal measuring standards
   4. D) Universal advertising and media format standards
   5. E) EDI standards
6. All of the following are unique features of e-commerce technology, except:

 

1. 1. A) personalization/customization.
   2. B) interactivity.
   3. C) transparency.
   4. D) richness.
   5. E) global reach.

 

7. Which of the following dimensions of e-commerce technology involves engaging consumers in a dialog that dynamically adjusts the experience to the individual?

 

7. 1. A) Ubiquity
   2. B) Personalization/customization
   3. C) Richness
   4. D) Interactivity
   5. E) Information density
8. Which of the following dimensions of e-commerce technology involves the integration of video, audio, and text marketing messages into a single marketing message and consumer experience?

 

8. 1. A) Ubiquity
   2. B) Personalization/customization
   3. C) Richness
   4. D) Interactivity
   5. E) Social technology
9. Which of the following dimensions of e-commerce technology has the potential to raise the quality of information?

 

9. 1. A) Information density
   2. B) Richness
   3. C) Customization
   4. D) Interactivity
   5. E) Global reach
10. The effort required to locate a suitable product is called:

 

1. 1. A) price discrimination.
   2. B) search costs.
   3. C) menu costs.
   4. D) shopping costs.
   5. E) location costs.

 

 

11. Information density refers to the:

 

1. 1. A) richness—complexity and content—of a message.
   2. B) total amount and quantity of information delivered to consumers by merchants.
   3. C) total amount and quantity of information available to all market participants.
   4. D) amount of information available to reduce price transparency.
   5. E) amount of physical storage space needed to store data about a specific entity, such as a product or consumer.

 

 

12. Selling the same goods to different targeted groups at different prices is called:

 

1. 1. A) cost customization.
   2. B) cost optimization.
   3. C) price gouging.
   4. D) cost personalization.
   5. E) price discrimination.

 

13. Information                        exists when one party in a transaction has more information that is important for the transaction than the other party.

 

13. 1. A) transparency
    2. B) asymmetry
    3. C) complexity
    4. D) discrimination
    5. E) competition
14. Varying a product's price according to the supply situation of the seller is called       pricing.

 

14. 1. A) menu
    2. B) flexible
    3. C) dynamic
    4. D) asymmetric
    5. E) customized
15. Reducing the business process layers in a distribution channel is called:

 

1. 1. A) disintermediation.
   2. B) BPR.
   3. C) market segmentation.
   4. D) network effects.
   5. E) market transparency.

 

 

16. All of the following are increased in traditional markets compared to digital markets except:

 

1. 1. A) search costs.
   2. B) menu costs.
   3. C) switching costs.
   4. D) network effects.
   5. E) information asymmetry.

 

17. Compared to digital markets, traditional markets have:

 

1. 1. A) lower search costs.
   2. B) stronger network effects.
   3. C) higher delayed gratification effects.
   4. D) reduced asymmetry.
   5. E) higher transaction costs.

 

 

18. Compared to traditional goods, digital goods have:

 

1. 1. A) greater pricing flexibility.
   2. B) lower marketing costs.
   3. C) higher production costs.
   4. D) higher inventory costs.
   5. E) lower menu costs.

 

 

19. Compared to traditional goods, digital goods have:

 

1. 1. A) lower costs of production.
   2. B) higher marginal costs per unit.
   3. C) equivalent copying costs.
   4. D) similar inventory costs.
   5. E) less disintermediation.

 

 

20. What is the primary benefit to consumers of disintermediation?

 

1. 1. A) Faster service
   2. B) Lower costs
   3. C) Higher quality
   4. D) Greater choices
   5. E) None, because disintermediation primarily benefits manufacturers.