Chapter 1: On-Demand and Sharing Economies
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Questions and Answers

What term is used to describe a phase of World Wide Web evolution characterized by dynamic webpages, social media, mashup applications, broadband connectivity, and user-generated content?

  • Dynamic Web Era
  • Web 2.0 (correct)
  • Web 3.0
  • Social Media 2.0

What is the main focus of social media based on Web 2.0 technology and culture?

  • Connection and collaboration (correct)
  • Transactional interactions
  • Static content sharing
  • Offline networking

Which of the following is NOT one of the key strategies that companies should use to leverage their social media interactions with consumers on the Web?

  • Supporting
  • Listening
  • Reviewing (correct)
  • Talking

Which term describes the challenge businesses face when trying to keep up with changes by monitoring technological evolution and potential competitors?

<p>Agility Challenge (B)</p> Signup and view all the answers

What is a primary characteristic of Web 2.0 technologies?

<p>User-generated content (B)</p> Signup and view all the answers

A digital business model is primarily focused on making profits through traditional brick-and-mortar stores.

<p>False (B)</p> Signup and view all the answers

Customer experience refers to the overall impact of a single interaction a customer has with a business.

<p>False (B)</p> Signup and view all the answers

In the on-demand economy, services are provided immediately to meet consumer demand.

<p>True (A)</p> Signup and view all the answers

Competitive advantage in business is achieved by offering higher prices and lower quality products than competitors.

<p>False (B)</p> Signup and view all the answers

Business models are core strategies for creating profit in organizations.

<p>True (A)</p> Signup and view all the answers

The sharing economy concept involves individuals sharing goods and services for free only.

<p>False (B)</p> Signup and view all the answers

Digital business models do not incorporate digital technology to generate revenue.

<p>False (B)</p> Signup and view all the answers

Customer experience is solely based on a single interaction point with an organization.

<p>False (B)</p> Signup and view all the answers

A competitive advantage is achieved by charging more than competitors for similar products.

<p>False (B)</p> Signup and view all the answers

In the on-demand and sharing economies, location-based services play a significant role in the delivery of services.

<p>True (A)</p> Signup and view all the answers

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