Question 1

In-person meetings arranged by people over social networking sites are called meetups.

Accepted Answer

Meetups are in-person meetings arranged by people over social networking sites.

Question 2

One of the first social shopping sites was craigslist, an information resource for San Francisco area residents that was created in 1995 by WELL member Craig Newmark.

Accepted Answer

Craigslist was one of the first social shopping sites, created by Craig Newmark in 1995.

Question 3

In sealed-bid auctions, bidders share information with each other.

Accepted Answer

In sealed-bid auctions, bidders do not share information with each other as each bid is submitted privately and not disclosed until the end of the auction.

Question 4

The most common third-party operating systems today are Apple iOS and BlackBerry 10.

Accepted Answer

While Apple iOS is a third-party operating system, BlackBerry 10 is not commonly used today as it has been discontinued since 2018. Android is currently the most common third-party operating system.

Question 5

In industries where there is a high degree of competition among suppliers, reverse auctions can be an efficient way to conduct and manage the price bidding that would naturally occur in that market.

Accepted Answer

Reverse auctions allow multiple suppliers to bid against each other in real-time, driving down prices and creating a more efficient market. This is particularly useful in industries where there are numerous suppliers offering similar products or services and where price is a key differentiator.

Question 6

The general idea behind many social networking sites is that people are invited to join by existing members who think they would be valuable additions to the community.

Accepted Answer

This is generally true for many social networking sites where existing members can invite their friends and contacts to join the site.

Question 7

The introduction of larger mobile phones and tablet devices has made the use of Wireless Application Protocol (WAP) mandatory.

Accepted Answer

The introduction of larger mobile phones and tablet devices has actually led to a decrease in the use of WAP, as these devices are capable of displaying traditional web pages instead of needing a simplified version through WAP.

Question 8

The most successful consumer auction Web site today is eBay.

Accepted Answer

According to market research, eBay is currently the most successful consumer auction website.

Question 9

The Dutch auction is also called an ascending-price auction.

Accepted Answer

A Dutch auction is actually a descending-price auction, where the auctioneer starts with a high asking price which is lowered until some participant is willing to accept the auctioneer's price.

Question 10

In a double auction, buyers and sellers each submit combined price-quantity bids to an auctioneer.

Accepted Answer

In a double auction, buyers and sellers submit separate price and quantity bids to an auctioneer. The auctioneer matches the bids to determine the clearing price and quantity traded.

Question 11

The types of products that work well for group shopping sites are branded products with well-established reputations.

Accepted Answer

Group shopping sites often rely on offering deals and discounts on well-known and popular brands, as customers are more likely to trust and feel comfortable buying products with established reputations.

Question 12

Sites that monetize visitors by charging them are unconcerned about visitor backlash.

Accepted Answer

Sites that monetize visitors by charging them often carefully consider the potential for visitor backlash, as it can lead to a decrease in traffic and revenue. They typically strive to balance monetization with user experience to maintain and grow their user base.

Question 13

In the second wave of electronic commerce, the Internet had become simply a tool that enabled communication among virtual community members.

Accepted Answer

In the second wave of electronic commerce, the Internet became a tool for communication among virtual community members through social media, chat rooms, and forums.

Question 14

The 2008 U.S. elections saw the first major use of blogs as a political networking tool.

Accepted Answer

Blogs were used as a political networking tool before the 2008 U.S. elections, notably in the 2004 U.S. presidential campaign, marking their emergence in political discourse and campaigning.

Question 15

The Internet reduces transaction costs in value chains and offers an efficient means of communication to anyone with an Internet connection.

Accepted Answer

This is true. The Internet has revolutionized the way businesses operate by reducing transaction costs in value chains and providing an efficient means of communication to anyone with an Internet connection. This has led to increased efficiency, productivity, and profitability for businesses.

Question 16

Visitors spend a greater amount of time at portal sites than they do at most other types of Web sites, which is attractive to advertisers.

Accepted Answer

This statement is true. Portal sites often have a wide range of content and services, which can keep visitors engaged for longer periods of time. This increased engagement is desirable to advertisers who want their ads to be seen by as many people as possible.

Question 17

Virtual communities began online after the Internet was in general use.

Accepted Answer

Virtual communities existed before the widespread use of the Internet, with examples such as bulletin board systems (BBS) and Usenet predating the modern Internet.

Question 18

The lock-in effect makes the task of creating alternative successful general consumer Web sites much easier.

Accepted Answer

The lock-in effect refers to the situation where a consumer is unable or unwilling to switch to an alternative product or service due to various factors, such as high switching costs or loyalty to a particular brand. This actually makes it more difficult to create alternative successful general consumer Web sites as consumers may already be locked-in to using a particular website or platform.

Question 19

Many colleges and universities now offer courses that use distance learning platforms such as Blackboard for student-instructor interaction.

Accepted Answer

Many colleges and universities offer courses that use distance learning platforms such as Blackboard for student-instructor interaction.

Question 20

A growing number of large organizations have built internal Web sites that provide opportunities for online social networking among their employees.

Accepted Answer

This statement is true. Many large organizations have built internal Web sites that allow their employees to connect and network with each other online. These social networking platforms can help to build stronger professional relationships and increase collaboration within the workplace.

Quiz 6: Social Networking Mobile Commerce and Online Auctions