1. Question :
The costs incurred when a firm buys on the marketplace what it cannot make itself are referred to as
Answer: transaction costs.
2. Question :
Answer: is defined as the elimination of layers in the distribution process.
3. Question :
The four major types of competitive strategy are:
Answer: low-cost leadership; product differentiation; focus on market niche; and customer and supplier intimacy.
4. Question :
Information asymmetry exists when
Answer: one party in a transaction has more important information than the other.
5. Question :
When a firm provides a specialized product or service for a narrow target market better than competitors, they ...view middle of the document...
10. Question :
The most successful solutions or methods for achieving a business objective are called
Answer: best practices.
11. Question :
An information system can enhance core competencies by
Answer: encouraging the sharing of knowledge across business units.
12. Question :
The more any given resource is applied to production, the lower the marginal gain in output, until a point is reached at which the additional inputs produce no additional output. This is referred to as
Answer: the law of diminishing returns.
13. Question :
Answer: sees the cost of adding new members as inconsequential.
14. Question :
In network economics, the value of a commercial software vendor's software products
Answer: increases as more people use them.
15. Question :
Current technology trends will result in
Answer: organizations with fewer levels of management.
16. Question :
The quality of ubiquity, as it relates to e-commerce, is illustrated by
Answer: the availability of Internet technology everywhere and anytime.
17. Question :
Which of the following is not a recent development in e-commerce?
Answer: Lack of growth of e-commerce retail sales
18. Question :
What term best describes consumers selling goods and services electronically to other?
Answer: C2C electronic commerce
19. Question :
Where there is no well understood or agreed-on procedure for making a decision, it is said to be
20. Question :
The type of decision that can be made by following a definite procedure is called a(n)
Answer: structured decision.