Question 1

Auction prices are often higher than prices in fixed priced markets.

Accepted Answer

A) True 
 B)False

Question 2

________ of procurement officers use auctions to purchase goods.

Accepted Answer

A)  80%
B)  Less than a quarter
C)  Over one third
D)  25%

Question 3

E-mailing buyers to warn them away from a seller is a type of auction fraud known as ________.

Accepted Answer

A)  transaction interference
B)  bid siphoning
C)  bid rigging
D)  shill bidding

Question 4

Which social network functionality allows users to view a list of updates from friends as well as advertisements and notifications in chronological order?

Accepted Answer

A)  message board
B)  timeline
C)  newsfeed
D)  friends networks

Question 5

Priceline is an example of a(n) :

Accepted Answer

A)  English auction.
B)  Dutch auction.
C)  penny auction.
D)  Name Your Own Price auction.

Question 6

It costs no money to bid in a penny auction.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is not a risk or cost of Internet auctions?

Accepted Answer

A)  delayed consumption costs
B)  equipment costs
C)  price transparency
D)  trust risks

Question 8

Which of the following involves e-mailing another seller's bidders and offering the same product for less?

Accepted Answer

A)  transaction interception
B)  bid siphoning
C)  shill bidding
D)  persistent bidding

Question 9

Instagram is an example of a(n) :

Accepted Answer

A)  interest-based social network.
B)  affinity community/social network.
C)  general community/social network.
D)  practice network.

Question 10

Which of the following types of auctions "shields the brand" of the seller?

Accepted Answer

A)  English auction
B)  Name Your Own Price auction
C)  Dutch auction
D)  penny auction

Question 11

Threatening negative feedback in return for a benefit is an example of:

Accepted Answer

A)  feedback extortion.
B)  offensive shill feedback.
C)  defensive shill feedback.
D)  sending spam.

Question 12

All of the following are solutions to the problem of high monitoring costs except:

Accepted Answer

A)  seller rating systems.
B)  watch lists.
C)  proxy bidding.
D)  fixed pricing.

Question 13

After Google, the next portal/search engine site with the most unique visitors is:

Accepted Answer

A)  Yahoo.
B)  Microsoft.
C)  AOL.
D)  Facebook.

Question 14

An example of a practice network is:

Accepted Answer

A)  Nike.
B)  Instagram.
C)  DebatePolitics.com.
D)  Linux.org.

Question 15

Which of the following early leaders in social networking has been reinvented as a music-oriented social network?

Accepted Answer

A)  Vevo
B)  Myspace
C)  Polyvore
D)  Tumblr

Question 16

Each of the following is one of the top six social network sites in the United States except:

Accepted Answer

A)  Tumblr.
B)  Snapchat.
C)  Instagram.
D)  Pinterest.

Question 17

One partial solution to high monitoring costs is ________ pricing.

Accepted Answer

A)  fixed
B)  dynamic
C)  allocated
D)  distress

Question 18

A ________ permits the consumer to monitor specific auctions of interest, requiring the consumer to pay close attention only in the last few minutes of bidding.

Accepted Answer

A)  bidding fee auction
B)  channel manager
C)  watch list
D)  rating system

Question 19

In 2015, Fortune 500 companies used ________ more than Facebook.

Accepted Answer

A)  no other social networks
B)  Twitter
C)  Google+
D)  Pinterest

Question 20

The time spent watching and reviewing auction bids is a part of ________ costs.

Accepted Answer

A)  pricing
B)  monitoring
C)  delayed consumption
D)  fulfillment

Exam 11: Social Networks, Auctions, and Portals

Each of the following is one of the top six social network sites in the United States except:

Correct AnswerverifiedShow Answer

In 2015, Fortune 500 companies used ________ more than Facebook.

Correct AnswerverifiedShow Answer

Which of the following types of auctions "shields the brand" of the seller?

Correct AnswerverifiedShow Answer

A ________ permits the consumer to monitor specific auctions of interest, requiring the consumer to pay close attention only in the last few minutes of bidding.

Correct AnswerverifiedShow Answer

E-mailing buyers to warn them away from a seller is a type of auction fraud known as ________.

Correct AnswerverifiedShow Answer

Which social network functionality allows users to view a list of updates from friends as well as advertisements and notifications in chronological order?

Correct AnswerverifiedShow Answer

It costs no money to bid in a penny auction.

Correct AnswerverifiedShow Answer

Which of the following involves e-mailing another seller's bidders and offering the same product for less?

Correct AnswerverifiedShow Answer

Priceline is an example of a(n) :

Correct AnswerverifiedShow Answer

The time spent watching and reviewing auction bids is a part of ________ costs.

Correct AnswerverifiedShow Answer

Threatening negative feedback in return for a benefit is an example of:

Correct AnswerverifiedShow Answer

Instagram is an example of a(n) :

Correct AnswerverifiedShow Answer

An example of a practice network is:

Correct AnswerverifiedShow Answer

One partial solution to high monitoring costs is ________ pricing.

Correct AnswerverifiedShow Answer

Which of the following early leaders in social networking has been reinvented as a music-oriented social network?

Correct AnswerverifiedShow Answer

All of the following are solutions to the problem of high monitoring costs except:

Correct AnswerverifiedShow Answer

________ of procurement officers use auctions to purchase goods.

Correct AnswerverifiedShow Answer

After Google, the next portal/search engine site with the most unique visitors is:

Correct AnswerverifiedShow Answer

Auction prices are often higher than prices in fixed priced markets.

Correct AnswerverifiedShow Answer

Which of the following is not a risk or cost of Internet auctions?

Correct AnswerverifiedShow Answer

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