MBA 705 LSUS Mclaughlin Exam 2 – Questions With
Accurate Solutions
Business-to-Business (B2B): Correct Answer - The segment of electronic
commerce whereby businesses utilize the Internet to solicit transactions from
each other.
Business-to-Consumer (B2C): Correct Answer - The segment of
electronic commerce whereby businesses utilize the Internet to solicit
transactions from consumers, also known as e-tailing.
Business-to-Government (B2G): Correct Answer - The segment of
electronic commerce whereby businesses utilize the Internet to solicit
transactions from government entities.
Clicks and Bricks: Correct Answer - The simultaneous application of
both electronic ("clicks") and traditional ("bricks") forms of commerce.
Commoditization: Correct Answer - A process whereby firms are having
a more difficult time distinguishing their products and services from those of
their rivals.
Consumer-to-Business (C2B): Correct Answer - The segment of
electronic commerce whereby consumers utilize the Internet to solicit
transactions from businesses.
Consumer-to-Consumer (C2C): Correct Answer - The segment of e-
commerce whereby consumers utilize the Internet to solicit transactions from
each other.
Culture: Correct Answer - A society's generally accepted values,
traditions, and patterns of behavior.
E-tailing: Correct Answer - Another term for B2C.
Economies of Scale: Correct Answer - The decline in unit costs of a
product or service that occurs as the absolute volume of production increases.
, Environmental Scanning: Correct Answer - The systematic collection
and analysis of information about relevant macroenvironmental trends.
Information Asymmetry: Correct Answer - When one party has
information that another does not.
Information Symmetry: Correct Answer - When all parties to a
transaction share the same information concerning that transaction.
Mass Customization: Correct Answer - The ability to individualize
product and service offerings to meet specific buyer needs
Mobile Commerce (M-Commerce): Correct Answer - Transactions
conducted in an entirely wireless environment, such as using a smartphone to
both purchase and download an airline ticket or piece of music.
Outsourcing: Correct Answer - Contracting out a firm's noncore, non-
revenue-producing activities to other organizations primarily to reduce costs.
Partnerships: Correct Answer - Contractual relationships with
enterprises outside the organization.
Self-Reference Criterion: Correct Answer - The unconscious reference to
one's own cultural values as a standard of judgment.
Societal Values: Correct Answer - Concepts and beliefs that members of
a society tend to hold in high esteem.
True Correct Answer - T/F In many respects, social forces are the
drivers of consumer markets.
True Correct Answer - T/F The expansion of a religion in an emerging
country is an example of a social force.
False (this is self reference criterion) Correct Answer - T/F The
unconscious reference to one's own cultural values as a standard of judgment
is known as cultural bias.
Accurate Solutions
Business-to-Business (B2B): Correct Answer - The segment of electronic
commerce whereby businesses utilize the Internet to solicit transactions from
each other.
Business-to-Consumer (B2C): Correct Answer - The segment of
electronic commerce whereby businesses utilize the Internet to solicit
transactions from consumers, also known as e-tailing.
Business-to-Government (B2G): Correct Answer - The segment of
electronic commerce whereby businesses utilize the Internet to solicit
transactions from government entities.
Clicks and Bricks: Correct Answer - The simultaneous application of
both electronic ("clicks") and traditional ("bricks") forms of commerce.
Commoditization: Correct Answer - A process whereby firms are having
a more difficult time distinguishing their products and services from those of
their rivals.
Consumer-to-Business (C2B): Correct Answer - The segment of
electronic commerce whereby consumers utilize the Internet to solicit
transactions from businesses.
Consumer-to-Consumer (C2C): Correct Answer - The segment of e-
commerce whereby consumers utilize the Internet to solicit transactions from
each other.
Culture: Correct Answer - A society's generally accepted values,
traditions, and patterns of behavior.
E-tailing: Correct Answer - Another term for B2C.
Economies of Scale: Correct Answer - The decline in unit costs of a
product or service that occurs as the absolute volume of production increases.
, Environmental Scanning: Correct Answer - The systematic collection
and analysis of information about relevant macroenvironmental trends.
Information Asymmetry: Correct Answer - When one party has
information that another does not.
Information Symmetry: Correct Answer - When all parties to a
transaction share the same information concerning that transaction.
Mass Customization: Correct Answer - The ability to individualize
product and service offerings to meet specific buyer needs
Mobile Commerce (M-Commerce): Correct Answer - Transactions
conducted in an entirely wireless environment, such as using a smartphone to
both purchase and download an airline ticket or piece of music.
Outsourcing: Correct Answer - Contracting out a firm's noncore, non-
revenue-producing activities to other organizations primarily to reduce costs.
Partnerships: Correct Answer - Contractual relationships with
enterprises outside the organization.
Self-Reference Criterion: Correct Answer - The unconscious reference to
one's own cultural values as a standard of judgment.
Societal Values: Correct Answer - Concepts and beliefs that members of
a society tend to hold in high esteem.
True Correct Answer - T/F In many respects, social forces are the
drivers of consumer markets.
True Correct Answer - T/F The expansion of a religion in an emerging
country is an example of a social force.
False (this is self reference criterion) Correct Answer - T/F The
unconscious reference to one's own cultural values as a standard of judgment
is known as cultural bias.
