ELEC 1-BSA2 Introduction to Business Logic Quiz

30 Questions

What is Data Licensing primarily about?

Leveraging copyrighted databases to generate revenue

Which e-commerce model involves no ownership of product or inventory?

Dropshipping

What differentiates High Touch from Low Touch?

Level of human interaction required

Which model runs on a commission basis and involves selling a company's products through a network of people?

Crowdsourcing

What is the main source of revenue for Blockchain businesses?

Tokens and Blockchain as a service

In which marketing model does the affiliate receive a commission for every sale referred?

Affiliate Marketing

What does a business model explain?

How a business serves its customers and achieves its goals

Which tool is used for presenting the key aspects of a business model?

Business Model Canvass

What is the purpose of the Business Model Canvass?

To answer key questions about the business model

Which aspect of the business model focuses on establishing relationships with customers?

Customer Relationships

What is the main focus of Key Resources in a business model?

Creating value propositions

Which question does a typical business model aim to answer?

What problems do we solve for customers?

What type of auction involves buyers making repeated bids while being aware of other buyers' bids?

Reverse Auction-Based

Which business model involves selling a high-margin product at a low price to boost sales of related low-margin products?

Bundling Business Model

In which business model does the company offer services to both sides?

Multi-sided Platform Model

What is the main characteristic of Reversed Razor and Blades business model?

Encourage the sale of high-margin products through low-priced items

Which model involves selling a product or service for partial usage or separate parts?

Fractionalization Business Model

What is the core concept of the Hidden Revenue Business Model?

Earning revenue from other sources without direct user payment

What is the key characteristic of a franchisee business model?

The franchisee uses the parent's business model and brand

What is the defining feature of a brick-and-mortar business model?

Retailers, wholesalers, and manufacturers deal with customers face-to-face

What is the key difference between a bricks-and-clicks and an e-commerce business model?

Bricks-and-clicks allows customers to pick up products from physical stores, while e-commerce does not

What is the core characteristic of a nickel-and-dime business model?

Customers are charged a premium for additional services

What is the key feature of a freemium business model?

The business model provides basic services for free and charges for premium add-ons

What is the defining characteristic of an aggregator business model?

The business model collects information about providers and sells their services under its own brand

Which of the following is NOT a type of business organization mentioned?

Cooperative

What is the primary characteristic that distinguishes a sole proprietorship?

It is owned and operated by a single person.

In a partnership, how are profits and losses shared?

Proportionally based on each partner's initial investment.

What is the primary purpose of a limited liability company?

To limit the personal liability of the owners.

Which of the following best describes the term "business logic"?

The rules or algorithms that govern the flow of information between a database and a user interface.

What is the primary purpose of logic, according to the text?

To provide a process for making conclusions and a tool for understanding.

Test your knowledge on the definition of a business, types of businesses like sole proprietorships and partnerships. Explore the differences between for-profit and non-profit activities in organizations.

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