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Q:
Identify five of the seven types of e-procurement.
Q:
List five major benefits of B2B for buyers or sellers or both.
Q:
(p. 104) Adam Smith's vision of _____ capitalism defined the essence of economic liberalism.
A. laissez-faire
B. modified market
C. neoliberal
D. state
Q:
List and briefly describe the four basic types of B2B transactions and activities.
Q:
(p. 104) The philosophy that social progress comes when individuals freely pursue their self-interests in unregulated markets is known as:
A. socialism.
B. mercantilism.
C. imperialism.
D. economic liberalism.
Q:
(p. 104) The philosophy of an open society in which the state does not interfere with rights of the individuals is known as:
A. neoliberalism.
B. embedded liberalism.
C. liberalism.
D. racism.
Q:
Denver Boards, a B2B manufacturer of snowboard equipment, can reach and target new retail customers in order to grow its online business by
A) hiring an affiliation service to drive traffic to its Web site.
B) reviewing POS data.
C) mining data.
D) advertising in traditional media.
Q:
Marketing by manufacturers and wholesalers along the sell-side of the supply chain best defines
A) B2C marketing.
B) B2B marketing.
C) M2W marketing.
D) M2B purchasing.
Q:
(p. 104) _____ is a term that denotes both the ideology of using markets to organize society and a set of policies to free markets from state intrusion.
A. Neoliberalism
B. Embedded liberalism
C. Social liberalism
D. Liberalism
Q:
(p. 104) Which of the following refers to a coalition of groups united by opposition to economic globalization dominated by corporate capitalism?
A. Consumer rights movement
B. Populist movement
C. Global justice movement
D. Civil rights movement
Q:
Which of the following companies uses viral videos to promote renewals of Care Pack Service agreements?
A) Reed Business Information
B) Cisco Systems
C) Arketi Group
D) Hewlett-Packard
Q:
(p. 104) A _____ is a zone of ideas, discourse, and action dominated by progressive values, that transcends national societies and focuses on global issues.
A. civil society
B. political society
C. government
D. state
Q:
The main uses of social networks include
A) reducing the number of suppliers.
B) encouraging maverick purchases.
C) learning useful business intelligence.
D) driving traffic to online Web properties.
Q:
(p. 102) According to new Progressives:
A. corporations have insufficient power.
B. corporations have inordinate legal rights.
C. corporations are inherently moral.
D. free markets force the corporations to serve the public interest.
Q:
Portals that store data and enable users to navigate and query these data are
A) collaborative portals.
B) information portals.
C) mobile portals.
D) MRO portals.
Q:
(p. 102) Which of the following statements about the new Progressives is true?
A. They make efforts to build majority coalitions in the mainstream.
B. They apply new scientific, legal, and management theories of the day to smooth the harsh edges of capitalism.
C. They believe that corporations have insufficient power.
D. They advocate more radical corporate reform than the old Progressives.
Q:
B2B portals that focus on a single industry or industry segment best describes
A) local portals.
B) information portals.
C) vortals.
D) collaborative portals.
Q:
With a bartering exchange, a company submits its surplus to the exchange and receives
A) points of credit, which the company can then use to buy items that it needs.
B) an equivalent amount of products or services.
C) interest payments until it buys something from the exchange.
D) cash minus a small commission for services.
Q:
(p. 102) The members of the broad political and social reform movement that took place in the early years of the 20th century are known as the:
A. old Progressives.
B. liberals.
C. new Progressives.
D. socialists.
Q:
Direct purchasing from internal marketplaces without the approval of supervisors and without the intervention of a procurement department best defines
A) spot buying.
B) desktop purchasing.
C) maverick buying.
D) renegade purchasing.
Q:
(p. 100-101) Which of the following social movements attacked business for contributing to a range of social ills including racism and sexism, consumer fraud, dangerous and alienating work, political corruption, and war profiteering?
A. Movements for civil rights, euthanasia, and the environment and against the Vietnamese War.
B. Movements for civil rights, consumer rights, euthanasia and against the Vietnamese War.
C. Movements for civil rights, Protestant ethics, and the environment and against the Vietnamese War.
D. Movements for civil rights, consumer rights, and the environment and against the Vietnamese War.
Q:
An example of a successful aggregation of suppliers' catalogs is that of ________, which aggregates more than 10,000 items from the catalogs of approved suppliers into an internal electronic catalog.
A) MasterCard International
B) Amazon.com
C) Google
D) Priceline.com
Q:
(p. 98) Which of the following is a reason for the rapid decline of socialism in the United States?
A. Moderate reforms of the populist movement came only because the threat of growing socialist popularity put pressure on the capitalist elite.
B. Socialist unions made a huge doctrinal error (though not a tactical mistake) when they labeled World War I an imperialist war and said that labor would refuse to shed its blood for wealthy capitalists.
C. Because of its electoral successes the Socialist Party chose to make itself less radical, thereby breaching socialist unity by alienating firebrand IWW leaders.
D. As time passed, the lot of most workers improved; real wages rose 37 percent and the average 50-hour workweek declined to 40 hours.
Q:
The aggregated catalogs of all approved suppliers combined into a single internal electronic catalog defines
A) bartering exchange.
B) buy-side e-marketplace.
C) sell-side e-marketplace.
D) internal procurement marketplace.
Q:
(p. 98) Which of the following statements about the Industrial Workers of the World (IWW) is NOT true?
A. The Industrial Workers of the World (IWW) was formed in 1905.
B. IWW proposed to represent all workers of both sexes and all races and in every industry in the fight to overthrow the capitalist system.
C. Laws were passed to prevent IWW members from speaking or assembling and it defied them, sometimes violently.
D. The IWW was the largest union and its unmitigated rejection of the system scared mainstream America and it was severely repressed.
Q:
Advantages of using internal catalogs include
A) decreasing the number of suppliers.
B) easy financial controls.
C) using search engines to look through internal catalogs.
D) all of the above.
Q:
(p. 97) Which of the following statements about unions that arose in the United States in the latter half of the 19th century is true?
A. Almost all early unions were radical and avowedly socialist.
B. Most early unions were tied to single companies or locations.
C. The largest union, the Knights of Labor, disdained Marxism and elected to work with employers for higher wages and better working conditions.
D. The first big national union, the American Federation of Labor, called for overthrow of the capitalists rather than for reforms to protect labor.
Q:
Which of the following is the unplanned, emergency-type buying where buyers usually pay more?
A) maverick buying
B) spot buying
C) impulse purchasing
D) extreme purchasing
Q:
(p. 97) According to Karl Marx and Friedrich Engels:
A. the basis for socialism was an inevitable process of class struggle underlying and explaining the history of human society.
B. in the free market, central planning is more burdensome than naturally occurring problems in the market.
C. under socialism the working class is exploited by the owners of capital, who pay low wages for dehumanizing work.
D. free markets harnessed greed for the public good and protected consumers from abuse.
Q:
E-procurement limitations and challenges include each of the following except
A) the technology needs to be updated frequently.
B) the system may be too complex.
C) the cost may be too high.
D) the ease of getting suppliers to cooperate electronically.
Q:
E-procurement benefits include each of the following except
A) reducing the number of suppliers.
B) ensuring delivery on time, every time.
C) ease of internal and external integration.
D) improving information flow and management.
Q:
(p. 96) Which of the following is NOT true about the new communal economy that Francois-Nol Babeuf, the originator of modern socialist doctrine, envisioned?
A. The government would receive their output and distribute to everyone the basic material necessities of life.
B. To eliminate individual desire for wealth and power, schools would teach egalitarian principles.
C. Private property would be ratified.
D. Citizens would be required to work based on their trade or skill.
Q:
Gathering and distributing purchasing information both from and to internal and external parties using Internet technology best defines
A) e-tendering.
B) e-informing.
C) e-sourcing.
D) e-MRO.
Q:
(p. 95) Socialism poses a revolutionary challenge to _____ society because it requires a change in property relationships that destroys bedrock arrangements.
A. communist
B. capitalist
C. anarchist
D. feudal
Q:
Types of e-procurement include
A) E-MRO.
B) E-market sites.
C) E-informing.
D) all of the above.
Q:
(p. 95) _____ is a classless social system in which property is collectively owned and income from labor is equally and indiscriminately divided among members.
A. Socialism
B. Capitalism
C. Anarchism
D. Fascism
Q:
Using Internet technology to buy goods and services from a number of known or unknown suppliers best defines
A) e-reverse auctioning.
B) e-tendering.
C) e-sourcing.
D) e-informing.
Q:
(p. 95) Which of the following is true regarding the progressive movement?
A. It was less radical than populism.
B. It had narrower appeal than populism.
C. It was strongly opposed by the urban middle class and professionals.
D. It was less effective than populism.
Q:
The electronic acquisition of goods and services for organizations via the Internet or private network best defines
A) e-procurement.
B) spot buying.
C) resource acquisition.
D) MRO planning.
Q:
(p. 95) The _____ movement was a turn-of-the-twentieth-century political movement that associated moderate social reform with betterment.
A. socialistic
B. progressive
C. libertarian
D. populist
Q:
(p. 94) _____ refers to a society that is ruled by the wealthy.
A. Kleptocracy
B. Democracy
C. Plutocracy
D. Theocracy
Q:
Major procurement methods include
A) buying at an exchange or industrial mall.
B) buying at private or public auction sites in which the organization participates as one of the buyers.
C) buying directly from manufacturers, wholesalers, or retailers from their catalogs, and possibly by negotiation.
D) all of the above.
Q:
(p. 93) To solve agrarian ills, the populists:
A. demanded that U.S. senators be picked by state legislatures.
B. sought to defend the gold standard.
C. espoused the use of capitalism.
D. advocated government ownership of railroad, telegraph, telephone companies, and banks.
Q:
Unplanned purchases of items needed quickly, often at non-prenegotiated higher prices, best defines
A) impulse purchases.
B) free market.
C) MRO purchasing.
D) maverick buying.
Q:
(p. 93) The political reform movement that arose among U.S. farmers in the late 1800s was the:
A. populist movement.
B. progressive movement.
C. libertarian movement.
D. socialistic movement.
Q:
The planning, organizing, and coordinating of all the activities relating to purchasing goods and services needed to accomplish the organization's mission best defines
A) buy-side e-marketplace.
B) supply chain management.
C) procurement management.
D) customer relationship management.
Q:
(p. 92) _____ refers to a socially engineered model of alternative community that is designed to correct faults in the world so its members can find happiness.
A. Ideology
B. Utopia
C. Materialism
D. Euphoria
Q:
A corporate-based acquisition site that uses reverse auctions, negotiations, group purchasing, or any other e-procurement method best defines
A) desktop procurement method.
B) buy-side e-marketplace.
C) intermediary.
D) aggregated catalog.
Q:
A characteristic that describes customer loyalty to a site that eventually results in higher revenue best defines
A) retention.
B) acquisition.
C) stickiness.
D) attachment.
Q:
(p. 90) According to Alexander Hamilton:
A. America should aspire to spread farming over its immense, unsettled territory.
B. manufacturing as an occupation leads to venality.
C. an agrarian economy would bring a state of equality and concern for the common good.
D. industrial growth would increase national power.
Q:
Companies use ________ to sell their unneeded assets for quick disposal or to dispose of excess, obsolete, and returned products.
A) private auctions
B) liquidation
C) reverse auctions
D) forward auctions
Q:
(p. 90) The popular theoretician of the rising capitalist spirit was _____ who published the first annual "Poor Richard's Almanack", an eclectic book of facts, information, and self-help advice.
A. Thomas Jefferson
B. Adam Smith
C. Benjamin Franklin
D. John Locke
Q:
Benefits of using a third-party hosting company for conducting B2B auctions instead of developing an auction site in-house include all of the following except
A) no hiring costs.
B) no redeployment of corporate resources.
C) time-to-market of several weeks.
D) no need for additional resources such as hardware, bandwidth, or IT personnel.
Q:
(p. 89) During industrialization:
A. consumption supplants thrift and saving.
B. less emphasis is placed on material things.
C. self-restraint overwhelms wealth creation.
D. rural, slow-paced societies remain unaltered.
Q:
High-quality bicycle manufacturer Gregg's Cycles does not sell its products online, nor do they allow their bicycles to be sold online by others. By not selling online, Gregg's Cycles avoids ________ with its dealers and the independent bike shops that sell its bikes.
A) pricing conflict
B) channel conflict
C) multichannel distribution
D) disintermediation
Q:
(p. 88) The belief that hard work and adherence to a set of virtues such as thrift, saving, and sobriety would bring wealth and God's approval is known as:
A. functionalism.
B. the Protestant ethic.
C. the Confucian ethic.
D. positivism.
Q:
Several benefits of Microsoft's ________ are that distributors can check inventory, make transactions, and look up the status of their orders, significantly reducing the number of phone calls, e-mails, and incorrect product shipments.
A) extranet-based order-entry tool
B) electronic data interchange
C) customized catalog
D) auto-responder
Q:
(p. 88) The lending of money for interest is known as:
A. predatory borrowing.
B. predatory lending.
C. usury.
D. alternative giving.
Q:
A Web-based marketplace in which one company sells to many business buyers from e-catalogs or auctions, frequently over an extranet, describes
A) sell-side e-commerce.
B) single-side e-commerce.
C) buy-side e-commerce.
D) reflective e-commerce.
Q:
(p. 88) A _____ price is determined by the interaction of the supply and demand without any moral dimension.
A. just
B. natural
C. normal
D. market
Q:
All are benefits of B2B except
A) creates new sales or purchase opportunities.
B) eliminates paper and reduces administrative costs.
C) increases channel conflict.
D) lowers search costs and time for buyers to find products and vendors.
Q:
(p. 88) The just price:
A. is the economic price for which a good or service is offered in the marketplace.
B. incorporates an excessive profit.
C. is determined by supply and demand without any moral dimension.
D. is inspired by fairness.
Q:
A comprehensive approach to managing an enterprise's interactions with the organizations that supply the goods and services it uses best defines
A) customer relationship management.
B) supply chain management.
C) partnership relationship management.
D) supplier relationship management.
Q:
(p. 88) A price that incorporates a modest profit and is adequate to maintain a merchant in the social station to which they are born is known as:
A. just price.
B. market price.
C. promotional price.
D. cost price.
Q:
A business strategy that focuses on providing comprehensive quality service to business partners best defines
A) customer relationship management.
B) supplier relationship management.
C) partner relationship management.
D) supply chain management.
Q:
(p. 88) The Roman Catholic Church exhorted the merchants to charge a _____ price for their wares.
A. market
B. natural
C. promotional
D. just
Q:
Which of the following is not one of the major benefits of B2B for both buyers and sellers?
A) expedites processing and reduces cycle time
B) reduces procurement costs
C) enables customized online catalogs with different prices for different customers
D) increases opportunities for collaboration
Q:
The major B2B service industries include each of the following except
A) travel and hospitality services.
B) financial services.
C) banking and online financing.
D) retail.
Q:
(p. 88) During the Middle Ages, the Roman Catholic Church:
A. was tolerant of profit seeking.
B. focused on the acquisition of wealth.
C. sought special status for the poor.
D. love of material things was not an act against God.
Q:
Materials used to support production are called
A) indirect materials.
B) operational materials.
C) direct materials.
D) virtual materials.
Q:
(p. 87) Aristotle defined material possessions and money as:
A. determinants of adhocracy.
B. external goods.
C. goods of the soul.
D. determinants of socialism.
Q:
Two types of materials and supplies that are traded in B2B are
A) digital and physical.
B) direct and indirect.
C) horizontal and vertical.
D) commodities and nonproduction.
Q:
(p. 87) According to Aristotle, which of the following is true?
A. Courage, temperance, justice, and wisdom are "external goods".
B. Trade was a lower form of acquisition because it was activity that did not contribute to inner virtue.
C. "External goods" were superior to "goods of the soul".
D. Profit motive was to be supported.
Q:
(p. 87) According to Plato:
A. when people engaged in trade they inevitably succumbed to the temptation of excess.
B. happiness is the ultimate goal of life.
C. the amount of happiness a person gained in life was equal to the amount of virtue accumulated in the soul.
D. profit motive was to be supported.
Q:
Materials used in the production of a product best defines
A) indirect materials.
B) direct materials.
C) MRO materials.
D) production materials.
Q:
Which of the following can be supported more effectively and efficiently through direct buyer-seller negotiations?
A) strategic sourcing
B) spot buying
C) B2C e-commerce
D) MRO
Q:
(p. 87) Which of the following is true regarding the civilizations of ancient Greece and Rome?
A. Both the civilizations were based on industrial activities.
B. Economic activity by merchants, bankers, and manufacturers was at a maximum.
C. Inaccurate economic doctrines were put forward to explain commercial activities.
D. Philosophers reasoned that profit seeking was the best motive.
Q:
(p. 86) Which of the following is true about an agrarian society?
A. It was a postindustrial society.
B. Most people worked in the industries for subsistence.
C. The political and cultural values of such societies was based on industrial experience.
D. Business activity beyond barter and exchange was a tiny part of the economy.
Q:
Purchases of goods and services based on long-term contracts best defines
A) direct materials.
B) consolidation.
C) spot buying.
D) strategic sourcing.
Q:
(p. 86) A society that has its economic, political, and cultural values based on agriculture is called a(n) _____ society.
A. agrarian
B. postindustrial
C. industrial
D. tribal