Test Bank For Electronic Commerce 12th Edition By Gary
Schneider 9781305867819 Chapter 1- 12 Complete Guide .
The whole auction process is managed by a(n) _____. - ANSWER: auctioneer
_____ are the prices that potential buyers in an auction are willing to pay for an item. - ANSWER: Bids
A(n) _____ is an independent party that holds a buyer's payment until the buyer receives the
purchased item and is satisfied that the item is what the seller represented it to be. - ANSWER:
escrow service
An English auction is sometimes called a(n) _____ because the bids are publicly announced. -
ANSWER: open auction
_____ were computers that allowed users to connect using dial-up connections through telephone
lines to read and post messages in a common discussion forum. - ANSWER: Bulletin board system
An auction where visitors describe items or services they want to buy, and a group of participating
merchants reply with offers to supply the item at a particular price is called a _____. - ANSWER:
reverse bid
One of the first operating systems for Internet-capable phones was made by _____ for their phones
and other portable devices. - ANSWER: palm
The trend toward having readers help write their own news is called _____ journalism. - ANSWER:
participatory
Compared to traditional advertising, an effective business use of social media tools is to _____. -
ANSWER: engage customers
Smaller businesses often sell their unusable and excess inventory to _____, which are firms that find
buyers for these items. - ANSWER: liquidation brokers
In a double auction, buyers and sellers each submit combined price-quantity bids to an auctioneer.
(T/F) - ANSWER: True
The types of products that work well for group shopping sites are branded products with well-
established reputations. (T/F) - ANSWER: True
The general idea behind many social networking sites is that people are invited to join by existing
members who think they would be valuable additions to the community. (T/F) - ANSWER: True
A growing number of large organizations have built internal Web sites that provide opportunities for
online social networking among their employees. (T/F) - ANSWER: True
In industries where there is a high degree of competition among suppliers, reverse auctions can be an
efficient way to conduct and manage the price bidding that would naturally occur in that market. (T/F)
- ANSWER: True
The _____ auction is a form of open auction in which bidding starts at a high price and drops until a
bidder accepts the price. - ANSWER: Dutch
The most common format used on eBay is a computerized version of the _____ auction. - ANSWER:
English
Schneider 9781305867819 Chapter 1- 12 Complete Guide .
The whole auction process is managed by a(n) _____. - ANSWER: auctioneer
_____ are the prices that potential buyers in an auction are willing to pay for an item. - ANSWER: Bids
A(n) _____ is an independent party that holds a buyer's payment until the buyer receives the
purchased item and is satisfied that the item is what the seller represented it to be. - ANSWER:
escrow service
An English auction is sometimes called a(n) _____ because the bids are publicly announced. -
ANSWER: open auction
_____ were computers that allowed users to connect using dial-up connections through telephone
lines to read and post messages in a common discussion forum. - ANSWER: Bulletin board system
An auction where visitors describe items or services they want to buy, and a group of participating
merchants reply with offers to supply the item at a particular price is called a _____. - ANSWER:
reverse bid
One of the first operating systems for Internet-capable phones was made by _____ for their phones
and other portable devices. - ANSWER: palm
The trend toward having readers help write their own news is called _____ journalism. - ANSWER:
participatory
Compared to traditional advertising, an effective business use of social media tools is to _____. -
ANSWER: engage customers
Smaller businesses often sell their unusable and excess inventory to _____, which are firms that find
buyers for these items. - ANSWER: liquidation brokers
In a double auction, buyers and sellers each submit combined price-quantity bids to an auctioneer.
(T/F) - ANSWER: True
The types of products that work well for group shopping sites are branded products with well-
established reputations. (T/F) - ANSWER: True
The general idea behind many social networking sites is that people are invited to join by existing
members who think they would be valuable additions to the community. (T/F) - ANSWER: True
A growing number of large organizations have built internal Web sites that provide opportunities for
online social networking among their employees. (T/F) - ANSWER: True
In industries where there is a high degree of competition among suppliers, reverse auctions can be an
efficient way to conduct and manage the price bidding that would naturally occur in that market. (T/F)
- ANSWER: True
The _____ auction is a form of open auction in which bidding starts at a high price and drops until a
bidder accepts the price. - ANSWER: Dutch
The most common format used on eBay is a computerized version of the _____ auction. - ANSWER:
English
