Question 1

In English auctions, bidders risk becoming caught up in the excitement of competitive bidding and then bidding more than their private valuations. This phenomenon is called the _____.

Accepted Answer

The answer of In English auctions, bidders risk becoming caught...

Question 2

The process of finding a lender who can provide funds for a business idea through social networking sites is referred to as _____.

Accepted Answer

The answer of The process of finding a lender who...

Question 3

_____ allows Web pages formatted in HTML to be displayed on devices with small screens.

Accepted Answer

The answer of _____ allows Web pages formatted in HTML...

Question 4

What is the main difference between eBay and a live English auction?

Accepted Answer

The answer of What is the main difference between eBay...

Question 5

List the supply chain characteristics that support reverse auctions.

Accepted Answer

The answer of List the supply chain characteristics that support...

Question 6

_____ are amounts that bidders are willing to pay for an item.

Accepted Answer

The answer of _____ are amounts that bidders are willing...

Question 7

How does proxy bidding work on eBay?

Accepted Answer

The answer of How does proxy bidding work on eBay?...

Question 8

_____ auctions, either sealed bid or open outcry, work well only for items of known quality, such as securities or graded agricultural products, that are regularly traded in large quantities.

Accepted Answer

The answer of _____ auctions, either sealed bid or open...

Question 9

If multiple items are being auctioned in a(n) _____ sealed-bid auction, successive lower (next highest) bidders are awarded the remaining items at the prices they bid.

Accepted Answer

The answer of If multiple items are being auctioned in...

Question 10

Farmers' cooperatives in the Netherlands use the _____ auction to sell perishable goods such as produce and flowers.

Accepted Answer

The answer of Farmers' cooperatives in the Netherlands use the...

Question 11

A(n) _____ auction is often better for the seller because the bidder with the highest private valuation will not let the bid drop much below that valuation for fear of losing the item to another bidder.

Accepted Answer

The answer of A(n) _____ auction is often better for...

Question 12

In a(n) _____ auction, multiple sellers submit price bids to an auctioneer who represents a single buyer.

Accepted Answer

The answer of In a(n) _____ auction, multiple sellers submit...

Question 13

What is the difference between an English auction and a Dutch auction?

Accepted Answer

The answer of What is the difference between an English...

Question 14

The act of placing a winning bid at the last second is called a(n) _____.

Accepted Answer

The answer of The act of placing a winning bid...

Question 15

The site JustBeads.com is an example of a(n) _____ auction site that caters to buyers and sellers who are geographically dispersed but share highly focused interests.

Accepted Answer

The answer of The site JustBeads.com is an example of...

Question 16

In an eBay auction, a(n) _____ automatically increases a bid to the next highest increment needed to exceed any bid, up to a bidder-specified maximum bid.

Accepted Answer

The answer of In an eBay auction, a(n) _____ automatically...

Question 17

Describe the operation of a typical auction.

Accepted Answer

The answer of Describe the operation of a typical auction....

Question 18

All eBay auctions have a(n) _____, the amount by which one bid must exceed the previous bid.

Accepted Answer

The answer of All eBay auctions have a(n) _____, the...

Question 19

A(n) _____ is the price at which an auction begins.

Accepted Answer

The answer of A(n) _____ is the price at which...

Question 20

Dutch auctions are also called _____ auctions.

Accepted Answer

The answer of Dutch auctions are also called _____ auctions....

Quiz 6: Social Networking Mobile Commerce and Online Auctions