ICT3641 E-commerce
quizlet.
,IBM defines electronic business as "the transformation of key business processes through the use
of Internet technologies."
True
A transaction is an exchange of value, such as a purchase, a sale, or the conversion of raw
materials into a finished product.
True
All the activities associated with a transaction result in measurable and recordable transactions.
False
Transferring funds, placing orders, sending invoices, and shipping goods to customers are all
types of activities or transactions.
True
Business-to-business electronic commerce occurs when a person sells an item through a Web
auction site to another person.
False
The U.S. government is one of the largest electronic data interchange (EDI) trading partners in
the world.
True
A problem that EDI pioneers faced was the high cost of implementation.
True
Value-added networks are leased telephone lines that establish direct network connections to all
trading partners of an organization
False
The increase in broadband connections in homes is a key element in the B2C component of the
second wave.
True
In some cases, business processes use traditional commerce activities very effectively, and
technology cannot improve them.
True
Irrespective of the transferability of merchandising skills to the Web, products are difficult to sell
on the Web.
False
A commodity item is a product or service that is hard to distinguish from the same product or
service provided by other sellers.
True
A product's shipping profile is a collection of details about the shipper.
False
A DVD is an excellent example of an item with a high value-to-weight ratio.
True
A product that has a strong brand reputation is easier to sell over the Web than an unbranded
item.
True
Electronic commerce provides buyers with an easy way to customize the level of detail in the
information they obtain about a prospective purchase.
True
Electronic commerce reduces the speed and accuracy with which businesses can exchange
information.
,False
Electronic payment can be easier to audit and monitor than payment made by check.
True
The legal environment in which electronic commerce is conducted is full of clear and concise
laws.
False
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.
True
Most economists agree that markets are weak and ineffective mechanisms for allocating scarce
resources.
False
Businesses and individuals can use electronic commerce to reduce transaction costs by
improving the flow of information and increasing the coordination of actions.
True
Buyers and sellers in commodity markets experience significant transaction costs.
False
Using the value chain reinforces the idea that electronic commerce should be a business solution,
not a technology implemented for its own sake.
True
A freight forwarder is a company that arranges shipping and insurance for international
transactions
True
Consumer shopping on the Web is often called _____.
B2C
The group of logical, related, and sequential activities and transactions in which businesses
engage are often collectively referred to as _____.
Business Processes
Banks use _____, which are electronic transmissions of account exchange information over
private communications' networks.
Wire Transfers
Electronic funds transfers are also called _____.
Wire Transfers
Businesses that engage in electronic data interchange with each other are called _____.
Trading Partners
A(n) _____ is an independent firm that offers connection and transaction-forwarding services to
buyers and sellers engaged in electronic data interchange.
Value-Added Network
_____ is the use of interpersonal connections online to promote or sell goods and services
Social Commerce
_____ refers to technologies that include software that allows users of Web sites to participate in
the creation, edition, and distribution of content on a Web site owned and operated by a third
party.
Web 2.0
, The combination of store design, layout, and product display knowledge to create store
environments that help convince customers to buy is called _____.
Merchandising
A(n) _____ is a set of processes that combine to achieve a company's primary goal, which is
typically to yield a profit.
Business Model
A(n) _____ is a specific collection of business processes used to identify customers, market to
those customers, and generate sales to those customers.
Revenue Model
_____ can be a better way to sell items that rely on personal selling skills.
Traditional Commerce
A barrier to the predictability of costs and revenues of electronic commerce projects is _____.
The Rapid Changes in Underlying Technology
_____ are the total of all costs that a buyer and a seller incur as they gather information and
negotiate a purchase-and-sale transaction.
Transaction Costs
One significant component of _____ can be the investment a seller makes in equipment or in the
hiring of skilled employees to supply the product or service to the buyer.
Transaction Costs
The practice of an existing firm replacing one or more of its supplier markets with its own
hierarchical structure for creating the supplied product is called _____.
Vertical Integration
An infrastructure issue that a company faces when it conducts international commerce includes
_____.
Communication Costs
In a(n)_____, companies coordinate their strategies, resources, and skill sets by forming long-
term, stable relationships with other companies and individuals based on shared purposes.
Network Economic Structure
Strategic partnerships occurring between or among companies operating on the Internet are
called _____.
Virtual Companies
_____ is a primary activity undertaken by an organization's strategic business unit.
Identifying Customers
As more people participate in a network, the value of the network to each participant increases.
This increase in value is called a _____.
Network Effect
A _____ is a way of organizing the activities that each strategic business unit undertakes to
design, produce, promote, market, deliver, and support the products or services it sells.
Value Chain
According to Porter, _____ describes the larger stream of activities into which a particular
business unit's value chain is embedded.
Value System
SWOT is the acronym for _____.
Strength, Weaknesses, Opportunities, and Threats
In SWOT analysis, the question "Are industry trends moving upward?" involves identifying the
_____ of an organization.
quizlet.
,IBM defines electronic business as "the transformation of key business processes through the use
of Internet technologies."
True
A transaction is an exchange of value, such as a purchase, a sale, or the conversion of raw
materials into a finished product.
True
All the activities associated with a transaction result in measurable and recordable transactions.
False
Transferring funds, placing orders, sending invoices, and shipping goods to customers are all
types of activities or transactions.
True
Business-to-business electronic commerce occurs when a person sells an item through a Web
auction site to another person.
False
The U.S. government is one of the largest electronic data interchange (EDI) trading partners in
the world.
True
A problem that EDI pioneers faced was the high cost of implementation.
True
Value-added networks are leased telephone lines that establish direct network connections to all
trading partners of an organization
False
The increase in broadband connections in homes is a key element in the B2C component of the
second wave.
True
In some cases, business processes use traditional commerce activities very effectively, and
technology cannot improve them.
True
Irrespective of the transferability of merchandising skills to the Web, products are difficult to sell
on the Web.
False
A commodity item is a product or service that is hard to distinguish from the same product or
service provided by other sellers.
True
A product's shipping profile is a collection of details about the shipper.
False
A DVD is an excellent example of an item with a high value-to-weight ratio.
True
A product that has a strong brand reputation is easier to sell over the Web than an unbranded
item.
True
Electronic commerce provides buyers with an easy way to customize the level of detail in the
information they obtain about a prospective purchase.
True
Electronic commerce reduces the speed and accuracy with which businesses can exchange
information.
,False
Electronic payment can be easier to audit and monitor than payment made by check.
True
The legal environment in which electronic commerce is conducted is full of clear and concise
laws.
False
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.
True
Most economists agree that markets are weak and ineffective mechanisms for allocating scarce
resources.
False
Businesses and individuals can use electronic commerce to reduce transaction costs by
improving the flow of information and increasing the coordination of actions.
True
Buyers and sellers in commodity markets experience significant transaction costs.
False
Using the value chain reinforces the idea that electronic commerce should be a business solution,
not a technology implemented for its own sake.
True
A freight forwarder is a company that arranges shipping and insurance for international
transactions
True
Consumer shopping on the Web is often called _____.
B2C
The group of logical, related, and sequential activities and transactions in which businesses
engage are often collectively referred to as _____.
Business Processes
Banks use _____, which are electronic transmissions of account exchange information over
private communications' networks.
Wire Transfers
Electronic funds transfers are also called _____.
Wire Transfers
Businesses that engage in electronic data interchange with each other are called _____.
Trading Partners
A(n) _____ is an independent firm that offers connection and transaction-forwarding services to
buyers and sellers engaged in electronic data interchange.
Value-Added Network
_____ is the use of interpersonal connections online to promote or sell goods and services
Social Commerce
_____ refers to technologies that include software that allows users of Web sites to participate in
the creation, edition, and distribution of content on a Web site owned and operated by a third
party.
Web 2.0
, The combination of store design, layout, and product display knowledge to create store
environments that help convince customers to buy is called _____.
Merchandising
A(n) _____ is a set of processes that combine to achieve a company's primary goal, which is
typically to yield a profit.
Business Model
A(n) _____ is a specific collection of business processes used to identify customers, market to
those customers, and generate sales to those customers.
Revenue Model
_____ can be a better way to sell items that rely on personal selling skills.
Traditional Commerce
A barrier to the predictability of costs and revenues of electronic commerce projects is _____.
The Rapid Changes in Underlying Technology
_____ are the total of all costs that a buyer and a seller incur as they gather information and
negotiate a purchase-and-sale transaction.
Transaction Costs
One significant component of _____ can be the investment a seller makes in equipment or in the
hiring of skilled employees to supply the product or service to the buyer.
Transaction Costs
The practice of an existing firm replacing one or more of its supplier markets with its own
hierarchical structure for creating the supplied product is called _____.
Vertical Integration
An infrastructure issue that a company faces when it conducts international commerce includes
_____.
Communication Costs
In a(n)_____, companies coordinate their strategies, resources, and skill sets by forming long-
term, stable relationships with other companies and individuals based on shared purposes.
Network Economic Structure
Strategic partnerships occurring between or among companies operating on the Internet are
called _____.
Virtual Companies
_____ is a primary activity undertaken by an organization's strategic business unit.
Identifying Customers
As more people participate in a network, the value of the network to each participant increases.
This increase in value is called a _____.
Network Effect
A _____ is a way of organizing the activities that each strategic business unit undertakes to
design, produce, promote, market, deliver, and support the products or services it sells.
Value Chain
According to Porter, _____ describes the larger stream of activities into which a particular
business unit's value chain is embedded.
Value System
SWOT is the acronym for _____.
Strength, Weaknesses, Opportunities, and Threats
In SWOT analysis, the question "Are industry trends moving upward?" involves identifying the
_____ of an organization.
