Question 1

Which of the following best describes the early years of e-commerce?

Accepted Answer

A)  They were a technological success but a mixed business success.
B)  They were a technological success but a business failure.
C)  They were a technological failure but a business success.
D)  They were a mixed technological and business success.

Question 2

Which of the following refers to the displacement of market middlemen and the creation of a new direct relationship between producers and consumers?

Accepted Answer

A)  network effect
B)  disintermediation
C)  friction-free commerce
D)  first mover advantage

Question 3

Which of the following is not a unique feature of e-commerce technology?

Accepted Answer

A)  interactivity
B)  social technology
C)  information asymmetry
D)  richness

Question 4

How has e-commerce changed the marketing of goods?

Accepted Answer

E-commerce has greatly changed the marke...

Question 5

Retail e-commerce in the United States is not expected to continue growing at double-digit growth rates in 2017-2018.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following statements is not true?

Accepted Answer

A)  Information asymmetries are continually being introduced by merchants and marketers.
B)  Intermediaries have not disappeared.
C)  Overall transaction costs have dropped dramatically.
D)  Brands remain very important in e-commerce.

Question 7

The Internet has shown similar growth patterns as other electronic technologies of the past.

Accepted Answer

A) True 
 B)False

Question 8

In 2017, there were more than ________ Internet hosts.

Accepted Answer

A)  1 million
B)  10 million
C)  100 million
D)  1 billion

Question 9

The Internet is a worldwide system of computer networks.

Accepted Answer

A) True 
 B)False

Question 10

All of the following were visions of e-commerce expressed during the early years of e-commerce except:

Accepted Answer

A)  a nearly perfect information marketspace.
B)  friction-free commerce.
C)  disintermediation.
D)  fast follower advantage.

Question 11

Which of the following is not an element of friction-free commerce?

Accepted Answer

A)  Information is equally distributed.
B)  Transaction costs are high.
C)  Prices can be dynamically adjusted to reflect actual demand.
D)  Unfair competitive advantages are eliminated.

Question 12

E-commerce technologies provide a unique, many-to-many model of mass communication.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following refers to the complexity and content of a message?

Accepted Answer

A)  richness
B)  reach
C)  information density
D)  interactivity

Question 14

The emergence of mobile, social, and local e-commerce occurred during the Reinvention period of e-commerce.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following refers to any disparity in relevant market information among parties in a transaction?

Accepted Answer

A)  information asymmetry
B)  unfair competitive advantage
C)  imperfect competition
D)  dynamic pricing

Question 16

Which of the following is the best definition of transaction cost?

Accepted Answer

A)  the expense of changing national or regional prices
B)  the cost of participating in a market
C)  the cost of finding suitable products in the market
D)  the cost merchants pay to bring their goods to market

Question 17

Identify the eight unique features of e-commerce technology and explain how these features set e-commerce apart from more traditional ways of conducting commercial transactions.

Accepted Answer

The eight unique features of e-commerce ...

Question 18

Which of the following statements about e-commerce, in the United States in 2017, is not true?

Accepted Answer

A)  Social e-commerce generates more revenue than mobile e-commerce.
B)  Desktop advertising still accounts for almost 70% of all digital advertising spending.
C)  On-demand service firms are fueling the growth of local e-commerce.
D)  Growth rates for retail e-commerce are higher in Europe than in the United States.

Question 19

All of the following are examples of social networks except:

Accepted Answer

A)  Instagram.
B)  Twitter.
C)  Y Combinator.
D)  Pinterest.

Question 20

Price transparency refers to the ease with which consumers can find out what merchants pay for products.

Accepted Answer

A) True 
 B)False

Exam 1: The Revolution Is Just Beginning

Price transparency refers to the ease with which consumers can find out what merchants pay for products.

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Which of the following refers to the complexity and content of a message?

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Which of the following best describes the early years of e-commerce?

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The Internet is a worldwide system of computer networks.

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Which of the following is the best definition of transaction cost?

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Which of the following statements about e-commerce, in the United States in 2017, is not true?

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Which of the following statements is not true?

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Which of the following is not a unique feature of e-commerce technology?

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Identify the eight unique features of e-commerce technology and explain how these features set e-commerce apart from more traditional ways of conducting commercial transactions.

Correct AnswerverifiedThe eight unique features of e-commerce ...View AnswerShow Answer

All of the following are examples of social networks except:

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Which of the following refers to any disparity in relevant market information among parties in a transaction?

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E-commerce technologies provide a unique, many-to-many model of mass communication.

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All of the following were visions of e-commerce expressed during the early years of e-commerce except:

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How has e-commerce changed the marketing of goods?

Correct AnswerverifiedE-commerce has greatly changed the marke...View AnswerShow Answer

In 2017, there were more than ________ Internet hosts.

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Which of the following refers to the displacement of market middlemen and the creation of a new direct relationship between producers and consumers?

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Which of the following is not an element of friction-free commerce?

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The emergence of mobile, social, and local e-commerce occurred during the Reinvention period of e-commerce.

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The Internet has shown similar growth patterns as other electronic technologies of the past.

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Retail e-commerce in the United States is not expected to continue growing at double-digit growth rates in 2017-2018.

Correct AnswerverifiedShow Answer

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The eight unique features of e-commerce ...
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E-commerce has greatly changed the marke...
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