Chapter 6 - Social Networking: Mobile Commerce & Online Auctions

Question 1

A(n) _______ site is a web site that allows individuals to create and publish a profile, create a list of other users with whom they share a connection (or connections), control that list and monitor similar lists made by other users.

Answer 1

Social networking

Question 2

The trend toward having readers help write the online newspaper is called _____ journalism.

Answer 2

Participatory

Question 3

The 18th century saw the birth of two British auction houses, ____ in 1744 and Christie’s in 1766.

Answer 3

Sotheby’s

Question 4

——— are the prices that potential buyers in an auction are willing to pay for an item.

Answer 4

Bids.

Question 5

In some auctions, _____, employee by the seller or the auctioneer, can make buds in behalf of the seller

Answer 5

Shill bidders

Question 6

In _____ auctions, bidders submit their bids independently and are usually prohibited from sharing information with each other.

Answer 6

Sealed-bid

Question 7

The Chicago Board of Trade conducts _____ auctions of commodity futures and stock options.

Answer 7

Open-outcry double

Question 8

Existing auction sites, such as eBay are inherently more valuable to customers than new auction sites. This is called a(n) _____.

Answer 8

Lock-in effect

Question 9

Large companies sometimes have _____ who find buyers for unusable inventory items.

Answer 9

Liquidation specialists

Question 10

Smaller businesses often sell their unusable and excess inventory to ______, which are forms that find buyers for these items.

Answer 10

Liquidation brokers