Q&A Hero

Q: Priceline's auctions utilize fixed pricing.

Q: It costs no money to bid in a penny auction.

Q: In B2C auctions, consumers control assets and use dynamic pricing to establish the price.

Q: ________ refers to the use of secondary user IDs or bidders who have no actual intention to buy to artificially raise the price of an item. A) Bid manipulation B) Shill feedback C) Shill bidding D) Bid rigging

Q: ________ refers to the feeling that one has paid too high a price for an item won at auction. A) Seller's lament B) Winner's lament C) Loser's regret D) Winner's regret

Q: E-mailing buyers to warn them away from a seller is a type of auction fraud known as ________. A) transaction interference B) bid siphoning C) bid rigging D) shill bidding

Q: The time spent watching and reviewing auction bids is a part of ________ costs. A) pricing B) monitoring C) delayed consumption D) fulfillment

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

Q: The term ________ refers to the advantages conferred as an auction site becomes larger in terms of visitors and products for sale. A) siphoning B) herd behavior C) network effects D) channel expansion

Q: One partial solution to high monitoring costs is ________ pricing. A) fixed B) dynamic C) allocated D) distress

Q: Threatening negative feedback in return for a benefit is an example of: A) feedback extortion. B) offensive shill feedback. C) defensive shill feedback. D) sending spam.

Q: Which of the following involves e-mailing another seller's bidders and offering the same product for less? A) transaction interception B) bid siphoning C) shill bidding D) persistent bidding

Q: Which of the following involves a concern that one will never know how much the ultimate winner might have paid, or the true value to the final winner? A) herd behavior B) winner's regret C) seller's lament D) loser's lament

Q: ________ is the tendency to gravitate toward, and bid for, auction listings with one or more existing bids. A) Group buying B) Winner's regret C) Herd behavior D) Bid rigging

Q: The profit a seller makes at auction is a function of all of the following except: A) initial pricing B) auction length. C) the number of units for auction. D) watch lists.

Q: Which of the following is not one of the top factors a business should consider when planning an Internet auction? A) type of product B) type of auction C) location of auction D) bid increments

Q: Priceline is an example of a(n): A) English auction. B) Dutch auction. C) penny auction. D) Name Your Own Price auction.

Q: A(n) ________, in which the highest bidder wins, is the most common form of auction. A) Dutch Internet auction B) Japanese auction C) English auction D) reverse auction

Q: All of the following types of auctions involve single units except: A) English auction. B) Dutch Internet. C) Name Your Own Price auction. D) penny auction.

Q: Which of the following types of auctions is perfect for sellers that have many identical items to sell? A) English auctions B) Name Your Own Price auctions C) Dutch Internet auctions D) group buying auctions

Q: When sellers agree informally or formally to set floor prices below which they will not sell on auction items, this is known as: A) discriminatory pricing. B) price matching. C) bid rigging. D) distress pricing.

Q: Which of the following allows the consumer to enter a maximum price and the auction software automatically places incremental bids up to that maximum price as their original bid is surpassed? A) watch lists B) proxy bidding C) sealed bidding D) price matching

Q: Which of the following types of auctions "shields the brand" of the seller? A) English auction B) Name Your Own Price auction C) Dutch auction D) penny auction

Q: All of the following are solutions to the problem of high monitoring costs except: A) seller rating systems. B) watch lists. C) proxy bidding. D) fixed pricing.

Q: The fact that participating in an Internet auction means that you will need to purchase a computer, learn to use it, and pay for Internet access, is an example of ________ costs. A) equipment B) fulfillment C) delayed consumption D) monitoring

Q: Which of the following is not a risk or cost of Internet auctions? A) delayed consumption costs B) equipment costs C) price transparency D) trust risks

Q: Which of the following is the market leader in C2C auctions? A) Amazon B) eBay C) uBid D) eBid

Q: All of the following are benefits of auctions except: A) more efficient price discovery. B) lower transaction costs. C) decreased price transparency. D) increased market efficiency.

Q: ________ of procurement officers use auctions to purchase goods. A) 80% B) Less than a quarter C) Over one third D) 25%

Q: Discuss the impact social networks have had on how businesses operate, communicate, and serve their customers.

Q: What business models do social networks use?

Q: If a large number of Internet users set Facebook as their primary destination on their Web browser, should Facebook be considered a portal?

Q: Describe four shared characteristics of social networks.

Q: Describe the evolution of social networks from their earliest appearance.

Q: A community site created by a corporation is called a sponsored community site.

Q: Facebook is the slowest growing of the most popular social networks.

Q: Less than two-thirds of Internet users worldwide participate in social networks.

Q: The amount of time visitors spend on a site is a measure of ________. A) reach B) loyalty C) conversation D) engagement

Q: A(n) ________ offers members focused discussion groups, help, information, and knowledge related to an area of shared practice. A) practice network B) general community C) affinity community D) interest-based social network

Q: Howard Rheingold, one of The Well's early participants, coined the term ________ to refer to "cultural aggregations that emerge when enough people bump into each other often enough in cyberspace." A) social networks B) virtual communities C) community portals D) social forums

Q: Which of the following statements about Instagram is not true? A) Instagram is owned by Twitter. B) Instagram is a photo-sharing app. C) Facebook developed its Camera app to compete with Instagram. D) In terms of time spent per month by users, Instagram is second only to Facebook.

Q: Which of the following companies was an early investor in Facebook? A) Google B) Apple C) Microsoft D) LinkedIn

Q: Which of the following is the most successful of Facebook's apps? A) Messenger B) Home C) Camera D) Riff

Q: Which of the following early leaders in social networking has been reinvented as a music-oriented social network? A) Vevo B) Myspace C) Polyvore D) Tumblr

Q: In 2015, which age group has the fastest growing rate of Facebook usage? A) 12-34 B) 35-44 C) 45-64 D) 64 and older

Q: Which of the following has the highest penetration of social network usage among the general population? A) North America B) Latin America C) Europe D) Asia-Pacific

Q: An example of a practice network is: A) Nike. B) Instagram. C) DebatePolitics.com. D) Linux.org.

Q: Healthboards is an example of a(n) ________ social network. A) practice-based B) interest-based C) affinity-based D) general

Q: When did the first online communities form? A) the 1970s B) the 1980s C) the 1990s D) the 2000s

Q: Pinterest visitors spend ________ a month on Facebook. A) over an hour B) about 15 minutes C) 6.5 minutes D) approximately 2.5 hours

Q: In 2015, Fortune 500 companies used ________ more than Facebook. A) no other social networks B) Twitter C) Google+ D) Pinterest

Q: Facebook purchased which of the following for $22 billion? A) Slingshot B) Snapchat C) WhatsApp D) Poke

Q: Each of the following is one of the top six social network sites in the United States except: A) Tumblr. B) Snapchat. C) Instagram. D) Pinterest.

Q: Which of the following is a leading social network in Russia? A) VK B) Tuenti C) Orkut D) Qzone

Q: Which of the following is the second leading social network in the United States in terms of number of members? A) Twitter B) LinkedIn C) Google+ D) Pinterest

Q: Around what percentage of Internet users in the United States use social networks on a regular basis? A) 54% B) 67% C) 85% D) 94%

Q: Which social network functionality allows users to view a list of updates from friends as well as advertisements and notifications in chronological order? A) message board B) timeline C) newsfeed D) friends networks

Q: Instagram is an example of a(n): A) interest-based social network. B) affinity community/social network. C) general community/social network. D) practice network.

Q: A Web site designed to give yachting enthusiasts a common discussion area would be classified as a(n): A) interest-based social network. B) affinity community. C) practice network. D) sponsored community.

Q: NaturallyCurly is an example of a(n): A) interest-based social network. B) affinity community. C) sponsored community. D) practice network.

Q: Which of the following is a community of members who self-identify with a demographic or geographic category? A) practice network B) sponsored community C) affinity community D) interest-based social network

Q: The technology used by early online communities was limited to mostly: A) instant messaging. B) FTP. C) e-mail. D) bulletin boards.

Q: One of the first online virtual communities was: A) The Well. B) Myspace. C) AOL. D) Salon.com.

Q: Cord cutters and cord shavers are shrinking the number of pay TV households yearly by approximately: A) 1%. B) 5%. C) 10%. D) 15%.

Q: Which of the following is not a current trend in online content? A) Sales of music in digital form produce more revenue than sales of physical units. B) Readership of newspapers in print form continues to exceed online readership. C) E-book sales growth slows. D) Explosive growth of the mobile platform accelerates the transition to digital content.

Q: How is the television industry being impacted by the Internet?

Q: What are e-sports, how do they make money, and why are advertisers attracted to it?

Q: In 2015, the mobile gaming market was the slowest growing form of online gaming in terms of revenue.

Q: The entertainment industry is generally considered to be composed of five players: television, Hollywood films, music, radio, and games.

Q: Which of the following statements is not true about OTT? A) To use OTT services, consumers must purchase a bundle of channels. B) OTT entertainment services are a threat to cable television. C) OTT refers to the fact that the entertainment service rides "on top" of other network services such as cable TV and telephone service. D) OTT entertainment services enable binge watching.

Q: Hollywood's practice of staggering the distribution of movies in different channels, such as box office and DVDs, is referred to as: A) price discrimination. B) content convergence. C) the release window. D) digital rights management.

Q: The leading merchants of digital games are Apple's App Store and: A) Xbox. B) Twitch.tv. C) Amazon Digital. D) the Google Play store.

Q: Which of the following is not one of the five types of digital gamers? A) casual gamers B) local gamers C) social gamers D) console gamers

Q: Which of the following statements about mobile gaming is not true? A) Mobile games will generate an estimated $2 billion in 2015. B) Mobile games have proven difficult to monetize. C) Mobile games appeal to a younger demographic than console games. D) Mobile games are expensive to develop.

Q: Which of the following is not a source of illegal file-sharing? A) Movie2K B) BitTorrent C) MovieWatch D) UltraViolet

Q: In 2015, which of the following comprised the largest segment of the online gaming audience? A) social gamers B) mobile gamers C) casual gamers D) console gamers

Q: In 2015, which of the following forms of online entertainment produced the least amount of revenue? A) Internet radio B) online music C) games D) motion TV and movies

Q: Which of the following is the largest producer of revenues in the entertainment industry? A) radio B) television C) films D) video games

Q: Which of the following statements about the music industry is not true? A) Music industry revenues have decreased by 50% since 1999. B) Digital revenues accounted for less than half of all U.S. music revenues in 2014. C) In 2014, sales of vinyl records grew 50%. D) Streaming music generates about 30% of all digital music sales.

Q: Which of the following statements about the television and premium video industry is not true? A) Apple's iTunes store is the leading distributor of streaming video. B) The television industry is the major source of premium video on the Internet. C) Americans spend more time watching television on a computer or mobile device than they do on a traditional television set. D) Over-the-top entertainment services are a threat to cable television distributors.