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

In an eBay ____________________, the bidder specifies a maximum bid and as new bidders enter the auction, the eBay site software continually enters higher bids for all bidders who placed such bids.

In a first-price sealed-bid auction, the ____ bidder wins.

When selling high-value items through an online auction, sellers can use an escrow service to protect their interests.

The act of placing a winning bid at the last second is called a(n)____________________.

Dutch auctions move large numbers of commodity items relatively slowly.

One rough measure of ____________________ is how long each user spends at a Web site.

The 18th century saw the birth of two British auction houses, ____ in 1744 and Christie's in 1766.

A ____ is the amount by which one bid must exceed the previous bid.

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

One of the first social shopping sites was craigslist, an information resource for San Francisco area residents that was created in 1995 by WELL member Craig Newmark.

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

What is the main difference between eBay and a live English auction?

The whole auction process is managed by a(n)____.

Sites conducting monetizing campaigns are unconcerned about visitor backlash.

In some cases, an English auction has a(n)____________________ bid, or reserve price.

The lock-in effect makes the task of creating successful general consumer Web sites much easier.

The most successful consumer auction Web site today is eBay.

Social networking sites are used in the political realm to discuss issues, plan strategies, and even arrange in-person meetings called mashups.

List the supply chain characteristics that support reverse auctions.

In ____ auctions, bidders submit their bids independently and are usually prohibited from sharing information with each other.