Q&A Hero

Q: Electronic intermediaries that provide and/or control information flow in cyberspace, often aggregating information and selling it to others, best defines A) infomediaries. B) knowledge managers. C) metamediary. D) Webstore.

Q: (p. 32) Liberalization refers to the creation of networks of human interaction that span worldwide distances.

Q: A(n) ________ is a single point of access, through a Web browser, to critical business information located inside and outside (via Internet) an organization. A) browser B) intermediary C) Web portal D) search engine

Q: (p. 30) Although the global population growth is slowing, it will be the highest in the most developed regions.

Q: Types of stores and malls include A) general stores/malls. B) specialized stores/malls. C) pure-play stores. D) all of the above.

Q: (p. 29) The number of children a woman must have on average to ensure that one daughter survives to reproductive age is known as the replacement fertility rate.

Q: An electronic storefront includes several mechanisms that are needed for conducting the sale. The most common mechanisms include each of the following except A) electronic catalog. B) search engine. C) supply chain. D) payment gateway.

Q: (p. 26) In the Gini index, 0 percent stands for absolute inequality and 100 percent stands for perfect equality.

Q: The major ________ mechanisms are storefronts and Internet malls. A) B2B B) C2B C) B2B2C D) B2C

Q: (p. 26) Global income inequality is measured by the Lorenz index.

Q: Each of the following is a true statement about public e-marketplaces except A) public marketplaces are usually B2B markets. B) public marketplaces are often owned by a third party. C) public marketplaces are not regulated by the government. D) public marketplaces serve many sellers and buyers.

Q: (p. 25) Sustained economic growth arose in Western Europe and the United States during the first half of the twentieth century.

Q: Online markets that are owned and operated by a single company and that are either sell-side or buy-side are known as A) private e-marketplaces. B) commercial portals. C) e-malls. D) B2B marketplaces.

Q: (p. 25) Great Britain was the first society to usher in the Industrial Revolution.

Q: A private e-marketplace in which one company sells either standard and/or customized products to qualified companies best defines A) buy-side e-marketplace. B) sell-side e-marketplace. C) Webstore. D) hidden e-marketplace.

Q: (p. 25) An environmental force of unknown origin and mysterious action that provides the energy for events is known as a historical force.

Q: The elimination of various types of agents that mediate between buyers and sellers, such as travel and insurance agents, is referred to as A) automation. B) disintermediation. C) remediation. D) e-distribution.

Q: (p. 24) Change in the business environment is the work of 10 deep historical forces or streams of related events.

Q: Activities related to order aggregation and fulfillment, inventory management, purchasing from suppliers, accounting and finance, packaging, and delivery are done in what is termed the ________ of the business. A) front end B) back end C) infrastructure D) intermediary

Q: Discuss the arguments against the stakeholder model.

Q: Each of the following is a major component and player in a marketspace except A) auctions. B) products and services. C) infrastructure. D) front end.

Q: (p. 17) What is the difference between primary and secondary stakeholders? Give examples.

Q: The portion of an e-seller's business through which customers interact, including the seller's portal, electronic catalogs, shopping cart, and payment gateway is referred to as the ________ of the business. A) front end B) back end C) infrastructure D) intermediary

Q: Discuss the stakeholder model of the BGS relationship.

Q: The emergence of electronic marketplaces changed several of the processes used in trading and supply chains including A) lowering information search time and cost for buyers. B) the ability of buyers, sellers, and the virtual market to each be in a different location. C) the ability for EC to leverage capabilities with increased effectiveness and lower transaction and distribution costs, leading to more efficient "friction-free" markets. D) all of the above.

Q: An online market, usually B2B, in which buyers and sellers exchange goods or services best defines A) cybermarket. B) e-marketplace. C) auction site. D) cyberstore.

Q: (p. 16) What conclusions can be drawn from the countervailing forces model in the BGS relationship?

Q: Traditional and electronic markets have three main functions, which include each of the following except A) matching buyers and sellers. B) facilitating the exchange of information, goods, services, and payments associated with market transactions. C) financing the transformation of raw materials into finished products. D) providing an institutional infrastructure, such as a legal and regulatory framework that enables the efficient functioning of the market.

Q: What is the countervailing forces model in the BGS relationship?

Q: Describe the dominance model.

Q: EC activities include A) trading, buy, sell, and exchange. B) communicate, collaborate, and learn. C) improve performance. D) all of the above.

Q: The entertainment EC activity is supported by A) Web 2.0 tools. B) e-auctions. C) electronic markets. D) storefronts.

Q: Discuss the market capitalism model and explain how it differs from the dominance model.

Q: Net neutrality is a big advantage of Web 3.0.

Q: Discuss the importance of the BGS field.

Q: An auction is the most popular type of virtual community.

Q: (p. 5-6) Discuss how institutions support markets.

Q: E-marketplaces, shopping carts, e-catalogs, and auctions are the major Web 2.0 mechanisms.

Q: (p. 5-7) What is a society? Discuss its elements.

Q: Twitter is a free microblogging service that allows its users to send and read other users' updates.

Q: Bartering is the exchange of goods and services.

Q: (p. 20) What is strategic management?

Q: A limitation of e-bartering for businesses is that excess capacity items such as office space, storage, factory space, idle facilities, and labor cannot be bartered.

Q: (p. 16) Define the term "stakeholders".

Q: (p. 14) What is Marxism?

Q: The major limitations of e-auctions are minimal security, possibility of fraud, and a limited participation.

Q: E-auctions are becoming less important selling and buying channels for companies and individuals.

Q: (p. 10) What is meant by "managerial capitalism"?

Q: (p. 4) Define "business".

Q: English and Yankee are the two major types of double auctions.

Q: Reverse auctions are primarily B2C.

Q: (p. 21) The study of phenomena that move through time is called __. A. history B. ideology C. time slip D. horology

Q: Forward auctions are bidding or tendering systems in which the buyer places an item for bid on a request for quote (RFQ) system; then potential suppliers bid on the job, with the price reducing sequentially, and the lowest bid wins.

Q: (p. 20) _____ is a statement or vision that creates insight by describing patterns or relationships in a diffuse subject matter. A. idea B. value C. theory D. postulate

Q: An auction is a competitive process and market mechanism that uses a competitive process by which a seller solicits consecutive bids from buyers or a buyer solicits bids from sellers.

Q: (p. 20) All of the following statements are true about theories EXCEPT that: A. they simplify and organize areas of knowledge. B. they integrate entire fields of knowledge. C. they are statements or visions that create insight. D. they are important in every field.

Q: An electronic shopping cart is an order-processing technology that allows customers to accumulate items they wish to buy while they continue to shop.

Q: (p. 20) ____ refers to actions taken by managers to adapt a company to changes in its market and sociopolitical environments. A. Organizational development B. Strategic management C. Social activism D. Value migration

Q: Shopping carts for B2B are fairly simple, but a shopping cart for B2C may be more complex.

Q: (p. 19) Despite its shortcomings, a compelling argument in favor of the stakeholder model is that: A. it isolates business from the broader society and defines the duties of a business as one of profit making. B. it has distinguished proponents like Adam Smith and Karl Marx. C. it clearly distinguishes between primary and secondary stakeholders making it easier for a corporation to satisfy each of them. D. it is the ethical way to manage because stakeholders have moral rights that grow from the way powerful corporations affect them.

Q: Search engines not only "search and match," but also have capabilities that can be used to perform routine tasks that require intelligence.

Q: (p. 19) Which of the following is a criticism of the stakeholder model? A. It does not account for changes that take place in the ideas and processes of society. B. It generally reflects a way of looking at the BGS relationship Western nations. C. There is no single, clear, and objective measure to evaluate the combined ethical/economic performance of a firm. D. It has a negative impact on a corporation's wealth-creating function.

Q: A desktop search is conducted by tools that search only the contents of the user's own computer files.

Q: (p. 19) A critique of the _____ model is that creating surplus ethical sensitivity that soars above legal duty is impractical and unnecessary. A. countervailing forces B. stakeholder C. market capitalism D. dominance

Q: WebMD, which is the largest U.S. medical services company, is known mainly for its webmd.com consumer portal, but its core business is being an e-intermediary.

Q: (p. 19) Critics of the stakeholder model argue that it: A. creates prosperity at the cost of rising inequality. B. primarily represents the perspective of the business and government. C. seeks to give power to the powerless by replacing force with ethical duty. D. has received little support from leading global organizations.

Q: A shopping facilitator is a type of broker and helps consumers compare prices and service at different stores.

Q: (p. 19) The _____ model is intended to revitalize capitalism with a new conceptualization of how the corporation should work. This theory rejects the shareholder-centered view of the firm. A. dominance B. market capitalism C. stakeholder D. countervailing forces

Q: The two major types of online intermediaries are infomediaries and negotiators.

Q: (p. 18) Which of the following statements about the stakeholder model is true? A. It reorders the priorities of management away from those in the market capitalism model. B. Exponents of this model agree on how to identify a stakeholder. C. It makes a realistic assessment of power relationships between the corporation and other entities. D. It sets up clear guidelines to measure profit.

Q: A widget is an element of user interface that displays an information arrangement changeable by the user, such as a window.

Q: (p. 17) The entities that have a relationship with a corporation such that they are affected immediately and powerfully by the actions of the corporation are called __. A. primary stakeholders B. activist groups C. secondary stakeholders D. trade associations

Q: Pure-play stores sell only one or a few kinds of products.

Q: A Web portal is a single point of access, through a Web browser, to critical business information loaded inside and outside (via Internet) an organization.

Q: (p. 17) Which of the following is an example of a primary stakeholder in a corporation? A. Media B. Government C. Trade associations D. Political parties

Q: (p. 17) Which of the following is an example of a secondary stakeholder in a corporation? A. Customers B. Unions C. Employees D. Stockholders

Q: Microsite refers to a page or pages that are meant to function as an auxiliary supplement to a primary website.

Q: (p. 16) A conclusion that can be drawn from the _____ model is that business is deeply integrated into an open society and must respond to multiple economic and noneconomic factors. A. dominance B. market capitalism C. stakeholder D. countervailing forces

Q: Electronic storefronts, Internet malls, and exchanges are major B2B e-marketplaces.

Q: (p. 16) The countervailing forces model differs from the dominance model in that it: A. advocates opening businesses directly to influence nonmarket forces. B. rejects the absolute primacy of business. C. opposes industrial capitalism. D. fears both physical and moral decline in workers.