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1. A perfect market is one which:

a. There are no competitive advantages or asymmetries because all

rms have equal access to all the factors to production.

b. One frm develops an advantage based on a actor o production that other

frms cannot purchase.c. One participant in the market has more resources than the others.

d. Competition is at a minimum, as each niche market within an industry is

served by the company with the greatest competitive advantage.

2. The early years of ecommerce were driven by all of the following

factors e!cept:

a. An emphasis on e!ploiting traditional distribution channels.

b. A huge inusion o venture capital unds.

c. An emphasis on quickly achieving a very high market visibility.

d. Visions o profting rom new technology.

". #hich of the following is not one of the seven ma$or segments of

the retail industry%

a. &lectronic and computers.

b. Consumer durables

c. asoline and uel

d. !ood and beverage

'. #hat is the primary revenue model for an edistributor%

a. (ales

b. "ransaction ee

c. Advertising

d. #ubscription

). ****** and ****** are typically the most easily identiable aspects of

a company+s business model.

a. $arket strategy% market opportunity

b. ,alue proposition- revenue model.

c. Value proposition% competitive environment

d. &evenue model% market strategy.

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. #hich of the following is not true regarding ecommerce today%

a. 'conomists visions o a riction(ree market have not been reali)ed.

b. Consumers are less price(sensitive than e*pected.

c. "here remains considerable persistent price dispersion.

d. The market middlemen disappeared.

/. #hich of the following statements is not true%

a. +normation asymmetries are continually being introduced by merchants and

marketers.

b. +ntermediaries have not disappeared

c. 0verall transaction costs have dropped dramatically.

d. rands remain very important in e(commerce.

. All of the following services require e!tensive personaliatione!cept:

a. 3inancial services.

b. -egal services.

c. $edical services.

d. Accounting services.

4. All of the following were visions of ecommerce e!pressed duringthe early years of ecommerce e!cept.

a. A nearly perect competitive market.

b. !riction(ree commerce.

c. isintermediation.

d. 3ast follower advantage.

15. #hich of the following is the topselling online retail category%

a. Apparel/accessories.

b. Computers/electronics.

c. 6ass merchant7department stores.

d. O0ce supplies.

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11. All of the following are business models employed by the musicindustry e!cept:

a. #ubscription.

b. 8eertopeer streaming.

c. ownload(and(own.

d. Cloud streaming.

12. &commerce technologies have changed the traditional tradeo9between the richness and reach of a marketing message. 8rior to the

development of the #eb%

a. $arketing messages had little richness.

b. "he smaller the audience reached, the less rich the message.

c. The larger the audience reached the less rich the message.

d. &ichness equaled reach

1". All of the following are advantages of online retail e!cept:

a. -ower supply chain costs.

b. -ower cost o distribution.

c. Ability to change prices.

d. 3aster delivery of goods.

1'. ;nteractivity in the conte!t of ecommerce can be described as:

a. "he ability to physically touch and manipulate a product.

b. "he comple*ity and content o a message.

c. "he ability o consumers to create and distribute content.

d. The enabling of twoway communication between consumer and

merchant.

1). #hich of the following is one of the three primary societal issues

related to ecommerce%

a. -iability

b. Anonymity

c. 'quity

d. ;ndividual privacy

1. &commerce can be dened as:

a. The use of ;nternet and the #eb to transact business.

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b. "he use o any +nternet technologies on a frm1s daily activities.

c. "he digital enablement o transactions and processes within an organi)ation.

d. Any digitally enabled transactions among individuals and organi)ations.

1/. All of the following are challenges faced by bricksandclicks rms

e!cept:

a. Coordinating prices across channels

b. 2andling returns o 3eb purchases at retail outlets.

c. uilding a credible 3eb site

d.