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Question
A(n) _____ auction is often better for the seller because the bidder with the highest private valuation will not let the bid drop much below that valuation for fear of losing the item to another bidder.Answer
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a. supply, wealth, occupations, and threats
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_____ are the total of all costs that a buyer and a seller incur as they gather information and negotiate a purchase-and-sale transaction.a. Opportunity costs b. Operating costsc. Transaction costs d. Historical costs
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Economists use a formal definition of market that includes two conditions: first, the potential sellers of a good come into contact with potential buyers, and second, that a medium of exchange is available.
a. True
b. False
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A product's shipping profile is a collection of details about the shipper.
a. True
b. False
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A commodity item is a product or service that is hard to distinguish from the same product or service provided by other sellers.
a. True
b. False
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Value-added networks are leased telephone lines that establish direct network connections to all trading partners of an organization.
a. True
b. False
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Business-to-business electronic commerce occurs when a person sells an item through a Web auction site to another person.
a. True
b. False
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A transaction is an exchange of value, such as a purchase, a sale, or the conversion of raw materials into a finished product.
a. True
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One problem that the Web presents for clothing retailers of all types is that _____.
a. customers are unwilling to buy clothing on-line
b. the color settings on computer monitors vary widely
c. the Web catalog revenue model is not flexible
d. online retail sales are not cost-effective
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Companies that have existing sales outlets and distribution networks often worry that their Web sites will take away sales from those outlets and networks.
a. True
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The Web provides a way for technical content developers to reach retail customers.
a. True
b. False
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A(n) _____ is a set of instructions that gives Web developers more control over the format of displayed pages.
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Obtaining identifiable names to use on the Web can be an important part of establishing a Web presence.
a. True
b. False
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Companies that have a well-established brand name or reputation in a particular line of business usually want the URLs for their Web sites to reflect that name or reputation.
a. True
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What are the business objectives of creating an effective online presence?
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