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

Smaller businesses often sell their unusable and excess inventory to ____, which are firms that find buyers for these items.

By the late 1990s, virtual communities were selling ____________________ to generate revenue.

William Vickrey won the 1996 Nobel Prize in Economics for his studies of the properties of ____________________ sealed-bid auctions.

Started at Duke University in 1979, ____________________ was a set of interconnected computers devoted to storing information on specific topics.

The trend toward having readers help write the online newspaper is called ____ journalism.

Visitors spend a greater amount of time at portal sites than they do at most other types of Web sites, which is attractive to advertisers.

Most of the early Web community businesses are open and thriving today.

Usenet ____________________ were message posting areas in which interested persons (primarily from the education and research communities)could discuss various topics.

Many people think of Priceline.com as a ____ auction site.

In a double auction, buyers and sellers each submit combined price-quantity bids to an auctioneer.

In sealed-bid auctions, bidders submit their bids independently and the bidders typically share information with each other.

The ____ auction is a form of open auction in which bidding starts at a high price and drops until a bidder accepts the price.

In 1999, Geocities was purchased by ____________________ for $5 billion.

____________________ 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.

Web sites that create communities based on the connections between ideas and that are more abstract are called ____________________ virtual communities.

The New York Stock Exchange conducts ____ auctions of stocks and bonds in which the auctioneer, called a specialist, manages the market for a particular stock or bond issue.

____ are the prices that potential buyers in an auction are willing to pay for an item.

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

The act of placing a winning bid at the last second is called a lock-in.

Virtual communities began online after the Internet was in general use.