Exam 6: Social Networking Mobile Commerce and Online Auctions

In the second wave of electronic commerce, the Internet had become simply a tool that enabled communication among virtual community members.

One of the first operating systems for Internet-capable phones was made by _____ for their phones and other portable devices.

In a(n) _____ auction, multiple sellers submit price bids to an auctioneer who represents a single buyer.

Sniping software observes auction progress until the last second or two of the auction clock.

_____ is the practice of lending very small amounts of money to people who are starting or operating small businesses, especially in developing countries.

How does proxy bidding work on eBay?

In an eBay auction, a(n) _____ automatically increases a bid to the next highest increment needed to exceed any bid, up to a bidder-specified maximum bid.

Mobile phones that function as credit cards are called _____.

The most popular and fastest growing third-party mobile operating system is _____.

The Internet reduces transaction costs in value chains and offers an efficient means of communication to anyone with an Internet connection.

In sealed-bid auctions, bidders share information with each other.

The most successful consumer auction Web site today is eBay.

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 _____.

A(n) _____ is a gathering place for people and businesses that does not have a physical existence.

In a(n) _____ auction, buyers and sellers each submit combined price-quantity bids to an auctioneer.

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.

An early attempt to monetize social networking by charging visitors a fee for a specific service was the _____ site.

The Dutch auction is also called an ascending-price auction.

In-person meetings arranged by people over social networking sites are called meetups.

_____ auctions, either sealed bid or open outcry, work well only for items of known quality, such as securities or graded agricultural products, that are regularly traded in large quantities.