Exam 6: Social Networking, Mobile Commerce, and Online Auctions

In some auctions, ____, employed by the seller or the auctioneer, can make bids on behalf of the seller.

A growing number of large organizations have built internal Web sites that provide opportunities for social interaction among their employees.

Many colleges and universities now offer courses that use distance learning platforms such as Blackboard for student-instructor interaction.

Companies, called ____ take an item and create an online auction for that item, handle the transaction, and remit the balance of the proceeds after deducting a fee.

Large companies sometimes have ____ who find buyers for unusable inventory items.

In English auctions, bidders risk becoming caught up in the excitement of competitive bidding and then bidding more than their private valuations.This phenomenon is called the ____________________.

The Chicago Board of Trade conducts ____ auctions of commodity futures and stock options.

In 2004, Google used a(n)____________________ auction to sell its stock to investors in its initial public offering.

An English auction is sometimes called a(n)____ because the bids are publicly announced.

The general idea behind all of the social networking sites is that people are invited to join by existing members who think they would be valuable additions to the community.

A(n)____________________ auction is often better for the seller because the bidder with the highest private valuation will not let the bid drop much below that valuation for fear of losing the item to another bidder.

The types of products that work well for group shopping sites are branded products with well-established reputations.

____ were computers that allowed users to connect through modems (using dial-up connections through telephone lines)to read and post messages in a common area.

The social networking site ____________________ was based on the idea that no more than six persons separated anyone in the world from any other person.

Existing auction sites, such as eBay, are inherently more valuable to customers than new auction sites.This is called a(n)____.

Second-price sealed-bid auctions are commonly called ____ auctions.

In an auction, a third-party ____ service can be used to hold the buyer's payment until he or she receives and is satisfied with the purchased item.

____________________-wave advertising fees are based less on up-front site sponsorship payments and more on the generation of revenues from continuing relationships with people who use the social networking sites.

Because social networking sites ask their members to provide demographic information about themselves, the potential for ____________________ marketing on these types of sites is very high.

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