The universal standards of the Internet and e-commerce lower which of the following? O Market entry costs O Ubiquity O Richness O Information density QUESTION 2 Information other party. O transparency O complexity O asymmetry O discrimination exists when one party in a transaction has more information that is important for the transaction than the QUESTION 3 Selling the same goods to different targeted groups at different prices is called: O price gouging. O cost customization. O price discrimination. O cost optimization. QUESTION 4 In digital markets: O network costs decline. O search costs increase. O switching costs decline. O menu costs are lower. QUESTION 5 Changing the prices of products based on the level of demand characteristics of the customer is called O dynamic O menu O asymmetric O flexible pricing. OUESTION 6 Which of the following dimensions of e-commerce technology involves engaging consumers in a dialogue that dynamically adjusts the experience to the individual? O Interactivity O Ubiquity O Richness O Personalization/customization QUESTION 7 Removing the business process layers in a distribution channel is called: O BPR. O market segmentation. O disintermediation. O network effects. QUESTION 8 Compared to digital goods, traditional goods have: O higher costs of distribution. O lower marginal costs per unit. O lower inventory costs. O lower copying costs. QUESTION 9 Compared to traditional markets, digital markets have: O lower search costs. O greater asymmetry. O higher menu costs. O weaker network effects. All of the following are examples of social commerce companies except: O Pinterest. O Facebook. O Twitter. O Uber. QUESTION 11 Which of the following dimensions of e-commerce technology has the potential to raise the quality of information? Interactivity O Customization O Information density O Richness QUESTION 12 Information density refers to the: O total amount and quantity of information delivered to consumers by merchants. O total amount and quantity of information available to all market participants. O richness complexity and content- of a message. O amount of information available to reduce price transparency. QUESTION 13 A marketplace extended beyond traditional boundaries and removed from a temporal and geographic location is called a(n): O exchange. O marketspace. O online marketplace. O e-hub. QUESTION 14 Compared to traditional goods, digital goods have: O higher inventory costs. O lower initial production costs. O a lower marginal cost of production on a per unit basis. O higher delivery costs. QUESTION 15 What event marked the beginning of e-commerce? O The first e-mail sent O The first paid advertisements placed on a website O The first product sold online O The first domain name registered QUESTION 16 When did e-commerce begin? O 1983 O 1995 O 1999 O 1965 QUESTION 17 Which of the following dimensions of e-commerce technology involves the integration of video, audio, and text marketing messages into a single marketing message and consumer experience? O Richness O Ubiquity O Personalization/customization O Interactivity OUESTION 18 What is the primary benefit to consumers of disintermediation? O Faster service O Lower costs O Higher quality O Greater choices QUESTION 19 All of the following are unique features of e-commerce technology, except: O interactivity. O transparency. O richness. O personalization/customization. QUESTION 20 The effort required to locate a suitable product is called: O menu costs. O search costs. O shopping costs. O price discrimination