Exam 1: Introduction to Electronic Commerce

Firms such as Walmart and General Electric have been pioneers in using EDI to improve their purchasing processes and their relationships with suppliers.

Electronic funds transfers are also called ____.

Businesses and individuals can use electronic commerce to reduce transaction costs by improving the flow of information and increasing the coordination of actions.

The term ____________________ refers to a translation that considers multiple elements of the local environment, such as business and cultural practices, in addition to local dialect variations in the language.

In the first wave of electronic commerce, Web pages were primarily in ____________________ (language), particularly on commerce sites.

Business-to-consumer electronic commerce occurs when a person sells an item through a Web auction site to another person.

In some cases, business processes use traditional commerce activities very effectively, and technology cannot improve upon them.

As more people participate in a network, the value of the network to each participant increases.This is known as the ____.

A small-denomination item is a product or service that is hard to distinguish from the same product or services provided by other sellers.

____________________ learning makes it possible for people to learn skills and earn degrees no matter where they live or which hours they have available for study.

A transaction always has one or more activities associated with it, and an activity will always be related to a transaction.

Which of the following statements is correct?

____ organizations are particularly well suited to technology industries that are information intensive.

An important element of business ____________________ is anticipating how the other party to a transaction will act in specific circumstances.

Some researchers define a fourth category of electronic commerce called ____, which includes individuals who buy and sell items among themselves.

Businesses often calculate ____ numbers before committing to any new technology.

A combination of ____________________ and traditional commerce strategies works best when the business process includes both commodity and personal inspection elements.

Your e-mail account, which gives you access to a network of other people with e-mail accounts, is an example of a(n)____________________ effect.

A DVD is an excellent example of an item with a high value-to-weight ratio.

For more than 40 years, banks have been using ____________________ which are electronic transmissions of account exchange information over private communications' networks.