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Q:
Which of the following has introduced a tool known as Consumer Alerts to inform readers when a review is likely to be fraudulent?
A) Yelp
B) TripAdvisor
C) Angie's List
D) TripExpert
Q:
Identify and discuss the key features of the online insurance industry.
Q:
The major impact of Internet real estate sites is in influencing offline decisions.
Q:
The online mortgage industry has transformed the process of obtaining a mortgage.
Q:
More than 50% of the adult U.S. population use online banking.
Q:
Craigslist is a player in which of the following online services markets?
A) real estate services and career services
B) insurance services and brokerage services
C) travel services
D) online accounting services
Q:
All of the following statements about the online real estate services market are true except:
A) most people use the Internet to search for a home, but still use the services of a real estate agent to complete the purchase.
B) real estate differs from other types of online financial services because it is impossible to complete a property transaction online.
C) the primary service offered by real estate sites is a listing of houses available.
D) the Internet and e-commerce have created significant disintermediation in the real estate marketplace.
Q:
All of the following statements about the online insurance industry are true except:
A) the Internet has dramatically changed the insurance industry's value chain.
B) Web sites of almost all the major firms provide the ability to obtain an online quote.
C) Internet usage has led to a decline in term life insurance prices industry-wide.
D) the industry has been very successful in attracting visitors searching for information.
Q:
The Internet has resulted in lower search costs, increased price comparison, and lower prices to consumers for which insurance product line?
A) term life insurance
B) automobile insurance
C) health insurance
D) property and casualty insurance
Q:
In ________, all of a customer's financial (and even nonfinancial) data are pulled together at a single personalized Web site.
A) account aggregation
B) a financial portal
C) integrated financial services
D) EBPP systems
Q:
Which of the following statements about online banking is not true?
A) Top mobile banking activities include checking balances and bank statements and viewing recent transactions.
B) Online and mobile banking transactions provide significant costs savings for banks.
C) Millennials are adopting mobile banking at a much higher rate than those who are older.
D) More people use a tablet for mobile banking than a mobile phone.
Q:
Which of the following best explains why the service sector is a natural avenue for e-commerce?
A) The service sector is less geographically reliant and more globally oriented.
B) The service sector has historically been more technology-reliant.
C) Much of the value in services is based on the collection, storage, and exchange of information.
D) It is not; services are difficult to translate to e-commerce because they rely on face-to-face communication and barter.
Q:
All of the following services require extensive personalization except:
A) financial services.
B) legal services.
C) medical services.
D) accounting services.
Q:
Which of the following is not an example of a transaction broker?
A) a stockbroker
B) a real estate agent
C) an accountant
D) an employment agency
Q:
Approximately ________ % of the United States labor force is involved in providing services.
A) 50
B) 60
C) 70
D) 80
Q:
Service industry groups are categorized generally into two groups, those that provide transaction brokering and those that involve:
A) retailing goods.
B) personalization.
C) information brokering.
D) providing hands-on services.
Q:
In the United States, the service sector accounts for approximately ________ % of the United States GDP.
A) 70
B) 75
C) 80
D) 85
Q:
Describe the virtual merchant business model and its unique challenges in becoming financially viable.
Q:
Discuss Amazon's future prospects. Do you think Amazon will ever be consistently profitable?
Q:
Why have so many online retailers had difficulty in achieving profits? How has this changed by 2015?
Q:
Which of the following has the second-highest share of online retail sales?
A) omni-channel merchants
B) virtual merchants
C) catalog merchants
D) manufacturer-direct
Q:
Which of the following has the highest share of online retail sales?
A) omni-channel merchants
B) virtual merchants
C) catalog merchants
D) manufacturer-direct
Q:
Which of the following occurs when retailers of products must compete on price and currency of inventory directly against the manufacturer?
A) disintermediation
B) localization
C) channel conflict
D) hypermediation
Q:
All of the following are examples of the challenges that traditional manufacturers experience when using the Internet to sell directly to the consumer except:
A) moving to a demand-pull model.
B) high cost structures.
C) developing a fast-response online order and fulfillment system.
D) channel conflict.
Q:
The term supply-push refers to:
A) making products prior to orders being received based on estimated demand.
B) waiting for orders to be received before building a product.
C) channel conflict.
D) multi-channel manufacturers who sell directly online to consumers.
Q:
All of the following are challenges for catalog merchants except:
A) high costs of printing and mailing.
B) building a credible Web site.
C) the need to bring staff in or manage new technology.
D) building sophisticated order entry and fulfillment systems.
Q:
All of the following are challenges faced by bricks-and-clicks firms except:
A) coordinating prices across channels.
B) handling returns of Web purchases at retail outlets.
C) building a credible Web site.
D) building a brand name.
Q:
All of the following statements about Amazon are true except:
A) Amazon showed a profit in 2014.
B) Amazon Web Services is now a major part of Amazon's business.
C) eBay can be considered a competitor of Amazon's.
D) Amazon continues to generate revenue primarily by selling products.
Q:
Virtual merchants face potentially large costs for all of the following except:
A) building and maintaining a Web site.
B) building and maintaining physical stores.
C) building an order fulfillment infrastructure.
D) developing a brand name.
Q:
Which of the following is a subscription-based retailer using predictive marketing and Big Data?
A) Macy's
B) Birchbox
C) Dell
D) Lands' End
Q:
Omni-channel merchants are also referred to as:
A) virtual merchants.
B) bricks-and-clicks companies.
C) catalog merchants.
D) manufacturer-direct firms.
Q:
Which of the following is not an example of a virtual merchant?
A) Overstock
B) Wayfair
C) Rue La La
D) Dell
Q:
Define economic viability and explain the factors involved in assessing a firm's economic viability.
Q:
The existence of substitute products is a key industry strategic factor.
Q:
Which of the following provides a financial snapshot of a company's assets and liabilities (debts) on a given date?
A) working capital
B) operating margin
C) balance sheet
D) gross margin
Q:
Which of the following measures the percentage of sales revenue a firm is able to retain after all expenses are deducted from gross revenues?
A) gross profit
B) net margin
C) operating margin
D) working capital
Q:
For a quick check of a firm's short-term financial health, examine its:
A) working capital.
B) gross margin.
C) long-term debt.
D) cost of sales.
Q:
Current liabilities are debts of the firm that will be due within:
A) three months.
B) six months.
C) one year.
D) two years.
Q:
Which of the following would not be considered a current asset?
A) long-term investments
B) cash
C) accounts receivable
D) marketable securities
Q:
What is another name for pro forma earnings?
A) net margin
B) operating income
C) earnings before income taxes, depreciation, and amortization (EBITDA)
D) generally accepted accounting principles (GAAP) earnings
Q:
Operating margin is defined as:
A) operating income or loss divided by net sales revenues.
B) operating income or loss divided by total operating expenses.
C) net sales revenues divided by net income or loss.
D) net assets divided by net liabilities.
Q:
Which of the following is not categorized as an operating expense?
A) the cost of products being sold
B) marketing costs
C) administrative overhead
D) amortization of goodwill
Q:
Gross margin is defined as gross profit:
A) minus total operating expenses.
B) divided by net sales revenues.
C) divided by cost of sales.
D) minus net income.
Q:
The lower the ________ compared to revenue, the higher the gross profit.
A) assets
B) cost of sales
C) gross margin
D) operating expenses
Q:
All of the following are strategic factors that pertain specifically to a firm and its related businesses except:
A) core competencies.
B) synergies.
C) technology.
D) power of customers.
Q:
Which of the following is not a key industry strategic factor?
A) synergies
B) barriers to entry
C) industry value chain
D) existence of substitute products
Q:
Describe the state of the online retail sector today.
Q:
Describe the vision of online retailing during the early days of e-commerce. Did these predictions and assumptions turn out to be true?
Q:
What are the challenges faced by automobile manufacturers in selling online?
Q:
Big Data plays an important role in predictive marketing.
Q:
Naturebox is an example of a subscription-based retail revenue model.
Q:
Online retailing provides an example of the powerful role that intermediaries continue to play in retail trade.
Q:
Consumers are primarily price-driven when shopping on the Internet.
Q:
Contrary to predictions of analysts made during the early days of e-commerce, the Internet has led to both disintermediation and hypermediation on a widespread basis.
Q:
About 90% of Internet users in the United States are now online buyers.
Q:
Personal consumption of retail goods and services accounts for over 75% of total gross domestic product.
Q:
In 2015, the number of online buyers was over 170 million.
Q:
Online retail constitutes about 20% of the total retail market today.
Q:
Which of the following had the highest online sales revenue in 2014?
A) Macy's
B) Walmart
C) Sears
D) Target
Q:
How many retailers generate approximately 90% of all retail e-commerce sales?
A) 10
B) 100
C) 1,000
D) 10,000
Q:
Which of the following statements is not true about the automobile and automobile parts and accessories online retail category?
A) Most of the revenue in this category is generated from the sales of automobiles.
B) Automobile manufacturers use the Internet to deliver branding advertising.
C) U.S. franchising law prohibits automobile manufacturers from selling cars directly to consumers.
D) Automobile retailing is dominated by dealership networks.
Q:
Which of the following is not one of the methods used by traditional retailers to develop omni-channel integration?
A) online Web catalog
B) online order, in-store pickup
C) online supply-push
D) online promotions for offline purchases
Q:
Which of the following is not one of the central challenges facing the online retail industry?
A) lack of physical store presence
B) consumer concerns about the privacy of personal information
C) inconvenience in returning goods
D) delivery delays
Q:
All of the following are advantages of online retail except:
A) lower supply chain costs.
B) lower cost of distribution.
C) ability to change prices.
D) faster delivery of goods.
Q:
Which of the following categories generates the highest percentage of online retail revenue?
A) computers and electronics
B) apparel and accessories.
C) books/music/video
D) automobile and automobile parts and accessories
Q:
In 2015, approximately what percentage of Internet users over the age of 14 made a purchase at an online retail store?
A) 35%
B) 55%
C) 75%
D) 95%
Q:
All of the following have launched trials of Buy buttons except:
A) Facebook.
B) Pinterest.
C) Twitter.
D) Tumblr.
Q:
All of the following were parts of the vision during the early days of e-commerce except the belief that:
A) new, "first-mover" middlemen, with expertise in e-commerce, would force traditional intermediaries out of business.
B) Web consumers were rational and cost-driven.
C) entry costs to the online retail market would be much less than those needed to establish a physical storefront.
D) the cost of acquiring customers would be much lower.
Q:
All of the following were factors that precipitated the growth of MOTO except:
A) the national toll-free call system.
B) the growth of the cellular phone industry.
C) falling long distance telecommunications prices.
D) the growth of the credit card industry.
Q:
All of the following statements about the MOTO sector are true except:
A) compared to general merchandisers, the transition to e-commerce has been easier for MOTO firms.
B) the MOTO sector is also referred to as the specialty store sector.
C) MOTO was the last technological revolution that preceded e-commerce.
D) distribution of catalogs is one of MOTO retailers' biggest expenses.
Q:
Which of the following is not one of the seven major segments of the retail industry?
A) electronics and computers
B) specialty stores
C) gasoline and fuel
D) food and beverage
Q:
The MOTO sector of the retail industry is most similar to the ________ sector.
A) specialty stores
B) general merchandise
C) online retail sales
D) consumer durables
Q:
Which of the following is not a major trend in online retail for 2015-2016?
A) Online retail remains the fastest growing retail channel.
B) Lunchtime purchases are the fastest growing time segment for online retail purchases.
C) Online retailers place an increased emphasis on providing an improved "shopping experience".
D) Virtual merchants using a subscription-based revenue model emerge.
Q:
Online gambling is now legal throughout the United States.
Q:
Section 230 of the Communications Decency Act (CDA) provides immunity for providers and users of interactive computer services (such as ISPs and Web sites) from being considered a publisher that might be liable for harmful content posted by others.
Q:
The Children's Internet Protection Act (CIPA) has been struck down by the U.S. Supreme Court as unconstitutional.
Q:
Which of the following is not a major e-commerce public safety and welfare issue?
A) regulation of gambling
B) regulation of cigarette sales
C) regulation of pornography
D) regulation of taxation
Q:
Explain why the taxation of e-commerce raises governance and jurisdiction issues.
Q:
Net neutrality refers to the idea that Internet service providers (ISPs), including cable Internet and wireless carriers, should treat all data on the Internet in the same manner, and not discriminate or price differentially by content, protocol, platform, hardware, or application.
Q:
Which of the following statements about net neutrality is not true?
A) The FCC now regulates ISP pricing.
B) The FCC ruled that Internet broadband service providers should be viewed as public utilities similar to telephone companies.
C) The FCC overruled state laws that made it difficult for cities to operate their own broadband networks.
D) ISPs can no longer discriminate against users on the basis of protocol or amount of usage.