MBA 705 LSUS: Mclaughlin exam 2
Study Guide Exam With 100%Correct
Answers 2026.
Business-to-Business (B2B): - Answer The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from each other.
Business-to-Consumer (B2C): - Answer The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from consumers, also known as e-tailing.
Business-to-Government (B2G): - Answer The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from government entities.
Clicks and Bricks: - Answer The simultaneous application of both electronic ("clicks") and
traditional ("bricks") forms of commerce.
Commoditization: - Answer A process whereby firms are having a more difficult time
distinguishing their products and services from those of their rivals.
Consumer-to-Business (C2B): - Answer The segment of electronic commerce whereby
consumers utilize the Internet to solicit transactions from businesses.
Consumer-to-Consumer (C2C): - Answer The segment of e-commerce whereby consumers
utilize the Internet to solicit transactions from each other.
Culture: - Answer A society's generally accepted values, traditions, and patterns of behavior.
E-tailing: - Answer Another term for B2C.
Economies of Scale: - Answer The decline in unit costs of a product or service that occurs as
the absolute volume of production increases.
Environmental Scanning: - Answer The systematic collection and analysis of information
about relevant macroenvironmental trends.
Information Asymmetry: - Answer When one party has information that another does not.
, Information Symmetry: - Answer When all parties to a transaction share the same
information concerning that transaction.
Mass Customization: - Answer The ability to individualize product and service offerings to
meet specific buyer needs
Mobile Commerce (M-Commerce): - Answer Transactions conducted in an entirely wireless
environment, such as using a smartphone to both purchase and download an airline ticket or
piece of music.
Outsourcing: - Answer Contracting out a firm's noncore, non-revenue-producing activities to
other organizations primarily to reduce costs.
Partnerships: - Answer Contractual relationships with enterprises outside the organization.
Self-Reference Criterion: - Answer The unconscious reference to one's own cultural values as
a standard of judgment.
Societal Values: - Answer Concepts and beliefs that members of a society tend to hold in high
esteem.
True - Answer T/F In many respects, social forces are the drivers of consumer markets.
True - Answer T/F The expansion of a religion in an emerging country is an example of a social
force.
False (this is self reference criterion) - Answer T/F The unconscious reference to one's own
cultural values as a standard of judgment is known as cultural bias.
False - Answer T/F Commoditization refers to the ability to individualize product and service
offerings to meet specific buyer needs.
True - Answer T/F Reading business publications can serve as a means of environmental
scanning.
True - Answer T/F Environmental scanning can be difficult for large firms because of the
availability of too much information.
Study Guide Exam With 100%Correct
Answers 2026.
Business-to-Business (B2B): - Answer The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from each other.
Business-to-Consumer (B2C): - Answer The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from consumers, also known as e-tailing.
Business-to-Government (B2G): - Answer The segment of electronic commerce whereby
businesses utilize the Internet to solicit transactions from government entities.
Clicks and Bricks: - Answer The simultaneous application of both electronic ("clicks") and
traditional ("bricks") forms of commerce.
Commoditization: - Answer A process whereby firms are having a more difficult time
distinguishing their products and services from those of their rivals.
Consumer-to-Business (C2B): - Answer The segment of electronic commerce whereby
consumers utilize the Internet to solicit transactions from businesses.
Consumer-to-Consumer (C2C): - Answer The segment of e-commerce whereby consumers
utilize the Internet to solicit transactions from each other.
Culture: - Answer A society's generally accepted values, traditions, and patterns of behavior.
E-tailing: - Answer Another term for B2C.
Economies of Scale: - Answer The decline in unit costs of a product or service that occurs as
the absolute volume of production increases.
Environmental Scanning: - Answer The systematic collection and analysis of information
about relevant macroenvironmental trends.
Information Asymmetry: - Answer When one party has information that another does not.
, Information Symmetry: - Answer When all parties to a transaction share the same
information concerning that transaction.
Mass Customization: - Answer The ability to individualize product and service offerings to
meet specific buyer needs
Mobile Commerce (M-Commerce): - Answer Transactions conducted in an entirely wireless
environment, such as using a smartphone to both purchase and download an airline ticket or
piece of music.
Outsourcing: - Answer Contracting out a firm's noncore, non-revenue-producing activities to
other organizations primarily to reduce costs.
Partnerships: - Answer Contractual relationships with enterprises outside the organization.
Self-Reference Criterion: - Answer The unconscious reference to one's own cultural values as
a standard of judgment.
Societal Values: - Answer Concepts and beliefs that members of a society tend to hold in high
esteem.
True - Answer T/F In many respects, social forces are the drivers of consumer markets.
True - Answer T/F The expansion of a religion in an emerging country is an example of a social
force.
False (this is self reference criterion) - Answer T/F The unconscious reference to one's own
cultural values as a standard of judgment is known as cultural bias.
False - Answer T/F Commoditization refers to the ability to individualize product and service
offerings to meet specific buyer needs.
True - Answer T/F Reading business publications can serve as a means of environmental
scanning.
True - Answer T/F Environmental scanning can be difficult for large firms because of the
availability of too much information.
