Question 1

The rise of Internet marketing has become particularly important in doing business in the B2B markets.

Accepted Answer

Internet marketing has become increasingly important in B2B markets as more businesses are using digital channels to conduct research, make purchases, and communicate with suppliers. This has led to a shift away from traditional forms of marketing and towards digital marketing tactics such as email marketing, content marketing, and social media marketing.

Question 2

SleekWrap is a company that produces industrial coatings for the steel industry.Until recently it relied on wholesalers to distribute its products to other businesses,but now it also sells directly to its business customers through its website.This is an example of the largest and most important type of e-commerce transaction.

Accepted Answer

The description matches with the B2B (business-to-business) e-commerce transaction, which involves selling products or services directly to other businesses. Therefore, it is true that SleekWrap's shift towards direct online selling to its business customers is an example of B2B e-commerce transaction.

Question 3

As emerging technologies become widespread,businesses tend to find better uses for them.However,in the case of the Internet,businesses that sell B2B have not benefited from directly selling to their business customers in the same way that B2C companies have done.

Accepted Answer

The answer of As emerging technologies become widespread,businesses tend to...

Question 4

There is less risk involved in starting an e-commerce only business than there is in trying to add e-commerce to a traditional bricks-and-mortar)store.

Accepted Answer

The answer of There is less risk involved in starting...

Question 5

Technological innovation has a ripple effect.With the advent of the Internet,Tyler Hanley,a certified tech-nerd,is being courted by companies to write the next generation of antivirus software.He tells us its big business!

Accepted Answer

The article states that Tyler Hanley is being courted by companies to write the next generation of antivirus software, implying that there is big business in this field.

Question 6

Although the Internet is exciting,very few people have access to it outside the U.S.

Accepted Answer

This statement is false. The Internet is available in most countries around the world, and its accessibility and availability vary depending on infrastructure, regulations, and economic factors.

Question 7

Bar codes are a form of technology that has enhanced a company's ability to be responsive to consumer needs.

Accepted Answer

Bar codes allow for more efficient and accurate inventory management, which in turn helps companies better understand consumer demands and restock products in a timely manner to meet those demands.

Question 8

Information in a database allows firms to carry only the products that the local population wants.

Accepted Answer

By analyzing the data in a database, firms can determine the preferences and purchasing patterns of the local population and make informed decisions about the products to stock. This can help them avoid carrying products that would not sell well in that particular market.

Question 9

Technology allows firms to be more responsive to their customers' wants and needs.

Accepted Answer

With the use of technology, firms can gather data about their customers, analyze their behavior, and use that information to tailor their products and services to meet their customers' wants and needs in a more efficient and effective way. This can help firms become more responsive to their customers and improve their customer satisfaction.

Question 10

One of the major advantages to firms involved in e-commerce is that the technology is still so new that the Internet-based firms face very little competition.

Accepted Answer

This statement is false. While there may be less competition in certain niche markets, the overall e-commerce industry is highly competitive with numerous established players and new entrants constantly emerging.

Question 11

Identity theft is when individuals or firms access people's personal information and then use it for illegal purposes and activities.

Accepted Answer

This statement is correct. Identity theft is a serious crime that involves stealing someone's personal information to commit fraud or other criminal activities. It can cause significant financial damage and can take a long time to resolve.

Question 12

E-commerce is the buying and selling of goods over the Internet.

Accepted Answer

E-commerce is the process of conducting business transactions over the internet. It involves buying and selling goods and services online, and it has become increasingly popular in recent years with the growth of the internet and the ease of online shopping.

Question 13

Niki has joined with several other investors to form a new company that sells foot care products to consumers over the Internet.Niki has invested in a B2C e-commerce company.

Accepted Answer

The statement mentions that Niki has invested in a company that sells foot care products to consumers over the internet, which is a B2C (business-to-consumer) e-commerce company.

Question 14

The main difference between B2C and B2B e-commerce is that B2C uses only the Internet,while B2B combines e-commerce with traditional bricks-and-mortar)outlets.

Accepted Answer

The statement is false as B2B e-commerce may also use only the Internet for transactions between businesses. B2B e-commerce typically involves higher volumes and values of transactions and may include online marketplaces, supply chain management systems, and EDI (electronic data interchange) technology. Traditional bricks-and-mortar outlets may be involved in B2B e-commerce, but it is not a requirement.

Question 15

An electronic storage file where information is kept is called a CPU.

Accepted Answer

A CPU (Central Processing Unit) is a component of the computer that executes instructions, it is not a storage file. Information is typically stored in various types of memory such as RAM, hard drives, or solid-state drives.

Question 16

The B2B Internet market consists of selling goods and services to consumers.

Accepted Answer

The B2B (business-to-business) Internet market consists of selling goods and services to other businesses, not to consumers.

Question 17

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

Accepted Answer

The business-to-business segment of e-commerce is actually more important than the business-to-consumer segment. This is because B2B transactions tend to be larger in volume and value, making them more significant for the economy as a whole. B2B e-commerce is also essential for supply chain management and efficiency in industries such as manufacturing and wholesale.

Question 18

The databases of a business often include a great deal of information about the firm's customers.

Accepted Answer

Customer information is typically stored in a business's databases, including personal details, purchase history, and preferences. This data is used to target marketing efforts, provide personalized experiences, and improve customer satisfaction.

Question 19

Over the past several years,workers in the small nation of Rainland have enjoyed an increase in the number of holidays and a reduction in the average length of the workday that has reduced the total number of hours they work each year.However,the output per worker in Rainland is higher now than it was before the reduction in hours.These facts suggest that productivity in Rainland has increased.

Accepted Answer

The increase in output per worker despite the reduction in hours worked indicates an increase in productivity in Rainland.

Question 20

With the emergence of the Internet,Jasmine finds it easy to do all her gift buying online.She takes comfort in the fact that new technologies if installed properly are seldom used in unethical ways.

Accepted Answer

While technologies themselves may not be inherently unethical, they can still be used in unethical ways. Cybercrime, online fraud, and data breaches are all examples of unethical actions that can occur through the use of technology. It is important to be aware of these risks and take necessary precautions when shopping online.

Quiz 1: Taking Risks and Making Profits Within the Dynamic Business Environment