E-commerce 2023-2024: Chapter 11 Quiz

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Questions and Answers

What is a primary feature of general communities in social networks?

They require a membership fee to participate.

They focus exclusively on niche topics.

They provide opportunities to interact with a general audience organized into topics. (correct)

User donations support the community.

What distinguishes practice networks from other types of social networks?

They offer focused discussion groups related to shared practices. (correct)

They are always for-profit organizations.

They focus on broad community interaction.

They are created exclusively by for-profit organizations.

What type of social network typically generates revenue from both advertising and product sales?

Interest-based social networks

General communities

Affinity communities (correct)

How do algorithms enhance social networks?

By producing relationship-based content. Signup and view all the answers

What is NOT a common feature of social networks?

Physical meet-ups Signup and view all the answers

What is a major concern discussed regarding Facebook's algorithms?

They can create echo chambers by favoring specific content. Signup and view all the answers

Which social network leads in time spent by users?

TikTok Signup and view all the answers

Which type of social network is specifically created for pursuing organizational goals?

Sponsored communities Signup and view all the answers

What percentage of total digital ad spending is generated by social network advertising?

30% Signup and view all the answers

Which feature is likely to be included in modern social networks?

Personalized feeds and timelines Signup and view all the answers

Which social network dominates in U.S. ad spending as of 2021?

Meta (Facebook/Instagram) Signup and view all the answers

How do most social networks primarily monetize their audiences?

Advertising Signup and view all the answers

What is a common business use of social networks?

Collaboration tool Signup and view all the answers

What challenge can businesses face regarding negative comments on social networks?

Judging if comments are from trolls or have merit Signup and view all the answers

LinkedIn generates revenue primarily through which method?

Subscription fees for premium services Signup and view all the answers

What is one way businesses use social networks to reach audiences?

Monitoring online reputation Signup and view all the answers

What is the primary purpose of Facebook's algorithm in the user's Feed?

To analyze posts and predict user engagement for content prioritization Signup and view all the answers

Which signal does NOT affect Facebook's relevance score for a post?

The geographic location of the user Signup and view all the answers

Which of the following is a benefit of online auctions?

Price transparency for buyers and sellers Signup and view all the answers

What primarily distinguishes consumer-to-consumer auctions from other sales methods?

An auction company serving as an intermediary for buyers and sellers Signup and view all the answers

What is one of the key characteristics of the posts prioritized by Facebook's algorithm?

They originate from the user's close connections and family. Signup and view all the answers

Which benefit of auctions helps in reducing costs for transactions?

Consumer aggregation Signup and view all the answers

What type of algorithm does Facebook utilize to assign relevance scores to posts?

Machine learning models based on user engagement predictions Signup and view all the answers

What is the current standing of eBay in the market for consumer-to-consumer auctions?

It is the market leader despite a decline in popularity. Signup and view all the answers

What is a potential risk faced by merchants in auction environments?

Delayed consumption costs Signup and view all the answers

Which auction type allows users to specify their desired price for goods or services?

Reverse auction Signup and view all the answers

What is one of the main advantages of the auction business model?

Avoidance of fulfillment activities Signup and view all the answers

What characterizes an English auction?

Single item up for sale with the highest bidder winning Signup and view all the answers

Which element is NOT considered a risk of auctions?

Surplus inventory Signup and view all the answers

What distinguishes a penny auction from other auction types?

Bids must be purchased beforehand Signup and view all the answers

Which of the following successfully pioneered reverse auctions in the B2C market?

Priceline Signup and view all the answers

How has the popularity of online auctions changed over time?

It has gradually declined Signup and view all the answers

Which product type is least likely to be suitable for auction?

Mass-produced items Signup and view all the answers

What is the potential risk related to consumer behavior in auctions?

Unintended results like winner’s regret Signup and view all the answers

What factor is NOT listed as a consideration when choosing auction types?

Environmental impact Signup and view all the answers

How can fraud in auctions create issues for participants?

It produces information asymmetries between buyers and sellers Signup and view all the answers

Which solution is NOT effective in preventing auction fraud?

Reverse bidding Signup and view all the answers

What is a characteristic of 'closed bidding' in auctions?

Bids are submitted without visibility to other participants Signup and view all the answers

What could be a consequence of high bid increment amounts?

Potential for fewer bids and less competition Signup and view all the answers

Which of the following is a form of auction fraud?

Shill bidding Signup and view all the answers

What distinguishes LinkedIn from other social networks such as Facebook and Instagram?

LinkedIn is designed primarily for professional networking. Signup and view all the answers

What is a defining characteristic of online social networks compared to traditional offline networks?

They remove time constraints and geographic limitations. Signup and view all the answers

Which of the following social networks has seen a slowdown in growth despite maintaining a large user base?

Facebook Signup and view all the answers

Which type of online community focuses primarily on messaging?

WhatsApp Signup and view all the answers

The growth of which social networks has increased in popularity alongside Facebook's slowing growth?

TikTok and Snapchat Signup and view all the answers

What aspect contributes to users trusting LinkedIn more than other social networks?

The professional nature and purpose of the platform. Signup and view all the answers

Which of the following is NOT a type of social network mentioned in the content?

MySpace Signup and view all the answers

What is the primary focus of professional social networks like LinkedIn?

Job searching and professional connections. Signup and view all the answers

Study Notes

E-commerce 2023-2024: Business, Technology, Society (Chapter 11)

Chapter 11 focuses on online communities.
Different types of social networks and online communities and their business models are described.
Major types of auctions, their benefits, costs, operation, and potential for abuse and fraud are also described.
LinkedIn is highlighted as a distinct social network.
The evolution of social networks and their growth worldwide are analyzed.
- Facebook remains a dominant platform worldwide and in the U.S.
- Platform usage has lessened, but growth of platforms like Instagram, TikTok, and Snapchat has remained strong.
- Messaging-focused social networks like WhatsApp and Discord are also mentioned.
The dominance of Meta (Facebook/Instagram) in advertising is noted, with over $50 billion in 2021 spending.
The use of social networks for business purposes, such as advertising, premium services, marketing, and brand reputation monitoring, is discussed.

Social networks utilize algorithms and computer programs.
Content is produced based on relationships and connections within the network.
Features include profiles, feeds, timelines, stories, friends/groups, network discovery, favorites, games, apps, instant messaging, and message boards.
Various methods of data storage are also mentioned.

Insight on Technology: Are Facebook's Algorithms Dangerous?

Discussion questions raise concerns about the way Facebook's algorithms work and potential dangers.
The implications of algorithm use, its solutions, and possible responsibilities required are contemplated.

Online Auctions

Auctions are used in consumer-to-consumer and business-to-business e-commerce.
Benefits of auctions include liquidity, price discovery, price transparency, market efficiency, and lower transaction costs.
Risks and costs of auctions include delayed consumption, monitoring costs, trust issues (possible fraudulent activities), and fulfillment costs.

Types of Auctions

Types of auctions are categorized and examples noted.
- English Auction (highest bidder wins)
- Reverse Auction (users set price, providers bid)
- Penny Auction (bidding fees required)
- Timed Auction (highest bidder during timeframe wins).

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Description

This quiz covers Chapter 11 of E-commerce 2023-2024, focusing on online communities and social networks. Explore the business models, auction types, and the evolution of major platforms such as Facebook, Instagram, and LinkedIn. Test your knowledge on how these networks influence advertising and marketing strategies.