2.2 Technology, currency values, and international trade

Question 1

What is e-commerce?

Answer 1

Is the buying and selling of goods in an electronic forum (the internet).

Question 2

When did e-commerce begin?

Answer 2

Modest beginning in 1995

Question 3

In Canada, __% of the with internet access use it to shop online.

Answer 3

74

Question 4

What was one of the first adopters of e-commerce in 1995?

Answer 4

eBay

Question 5

What are the four types of transactions?

Answer 5

1. B2C Business to Consumer
2. B2B Business to Business
3. C2B Consumer to Business
4. C2C Consumer to Consumer

Question 6

The exchange rate varies depending on the

Answer 6

direction of the exchange

Question 7

What does CAD stand for?

Answer 7

Is the International Organization for Standardization which has a mandate to provide standards for businesses and governments

Question 8

What is the ISO for Britian

Answer 8

GPD

Question 9

What is the hard currency?

Answer 9

Is one that is reliable and stable and does not experience large fluctuations in value and is globally traded.

Question 10

What is the soft currency?

Answer 10

Is one that fluctuates in value erratically and is not generally globally traded

Question 11

What are the four factors that affect the value of a currency?

Answer 11

Economic condition
Political stability
Balance of trade
Speculation

Question 12

The higher the Canadian value, importers have _____ profit

Answer 12

higher

Question 13

The higher the Canadian value, exporters have _____ profit

Answer 13

lower

Question 14

What boosts the tourism?

Answer 14

A decrease in the value of the Candian dollar

Question 15

A high Canadian dollar means the organization _____ on player’s salaries

Answer 15

saves