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

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

In industries where there is a high degree of competition among suppliers, reverse auctions can be an efficient way to conduct and manage the price bidding that would naturally occur in that market.

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

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

What is the difference between an English auction and a Dutch auction?

The process of finding a lender who can provide funds for a business idea through social networking sites is referred to as _____.

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

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

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

A(n) _____ is an independent party that holds a buyer's payment until the buyer receives the purchased item and is satisfied that the item is what the seller represented it to be.

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

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

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.

Sites that monetize visitors by charging them are unconcerned about visitor backlash.

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.

_____ software is developed by a community of programmers who make the software available for download at no cost.

The introduction of larger mobile phones and tablet devices has made the use of Wireless Application Protocol (WAP) mandatory.

Because sniping software synchronizes its internal clock to the auction site clock and executes its bid with a computer's precision, the software almost always wins out over a human bidder.

_____ are amounts that bidders are willing to pay for an item.

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