Exam 1: Introduction to Electronic Commerce

The _____ refers to a strategy adopted by many companies and investors who believed that by being the first Web site to offer a particular type of product or service, they would be given opportunities to be successful.

A DVD is an excellent example of an item with a high value-to-weight ratio.

The combination of language and customs is often called _____.

The term _____ is used in business to describe very large stores of information such as that collected by online sellers about their customers.

Electronic funds transfers are also called _____.

_____ is a primary activity undertaken by an organization's strategic business unit.

Human resource management and purchasing activities, which are part of a value chain model, are known as _____.

Businesses and individuals can use electronic commerce to reduce transaction costs by improving the flow of information and increasing the coordination of actions.

An infrastructure issue that a company faces when it conducts international commerce includes _____.

A(n) _____ is a company that arranges the payment of tariffs and compliance with customs laws for international shipments.

_____ occurs when one business transmits computer-readable data in a standard format to another business.

A product that has a strong brand reputation is easier to sell over the Web than an unbranded item.

A problem that EDI pioneers faced was the high cost of implementation.

Electronic commerce reduces the speed and accuracy with which businesses can exchange information.

IBM defines electronic business as "the transformation of key business processes through the use of Internet technologies."

In some cases, business processes use traditional commerce activities very effectively, and technology cannot improve them.

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.

SWOT is the acronym for _____.

The legal environment in which electronic commerce is conducted is full of clear and concise laws.

Most economists agree that markets are weak and ineffective mechanisms for allocating scarce resources.