Electronic Markets and EDI Quiz

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Questions and Answers

What is the main purpose of an electronic market?

To allow purchasers to compare prices and attributes of offerings (correct)

To facilitate direct communication between computer systems

To advertise and sell a wide range of goods and services

To deliver purchased items by post

Which of the following is a key benefit of Electronic Data Interchange (EDI)?

Allows for the purchase of books and event tickets online

Eliminates the need for printed orders and invoices (correct)

Presents a range of offerings available in a market segment

Facilitates the commercial use of the Internet

Which sector extensively uses Electronic Data Interchange (EDI)?

Electronic markets

Airline booking systems

Online book sales

Large supermarket chains (correct)

What does the text suggest about the evolution of IT capabilities?

The world has entered a new phase of the Internet era Signup and view all the answers

Which of the following is an example of Internet-based e-Commerce mentioned in the text?

Purchase of books and event tickets Signup and view all the answers

Which of the following is NOT a key characteristic of electronic markets as described in the text?

Enables the delivery of purchased items by post Signup and view all the answers

Which of the following is NOT considered a form of e-commerce?

Face-to-face cash transactions at a local store Signup and view all the answers

Which of the following is an example of an electronic market?

An airline booking system Signup and view all the answers

Which type of e-commerce system is primarily used for recurrent trade exchanges between commercial organizations?

Electronic data interchange (EDI) Signup and view all the answers

What is the primary function of an electronic market?

To facilitate the search for the required product or service Signup and view all the answers

Which of the following statements about Internet commerce is true?

It has applications for both business-to-business and business-to-consumer transactions. Signup and view all the answers

Which of the following is NOT a type of e-commerce system mentioned in the text?

Cloud computing platforms Signup and view all the answers

What is the primary focus of Electronic Markets (EMS)?

Facilitating search and discovery for consumers Signup and view all the answers

Which of the following is NOT considered a part of the overall sphere of e-Commerce?

Management Information Systems (MIS) Signup and view all the answers

Which period is characterized by the rise of Management Information Systems (MIS)?

1975-1994 Signup and view all the answers

Which of the following is a key characteristic of Electronic Data Interchange (EDI)?

Enabling standardized, regular transactions between organizations Signup and view all the answers

What is the most general definition of e-Commerce provided in the text?

The seamless application of information and communication technology to enable business processes Signup and view all the answers

Study Notes

Electronic Markets and E-Commerce

The main purpose of an electronic market is to facilitate buying and selling through digital platforms, enhancing accessibility and efficiency.
A key benefit of Electronic Data Interchange (EDI) is the reduction in paperwork and errors, leading to faster transaction processing.
The retail and logistics sectors extensively use EDI to streamline operations and improve supply chain management.
The evolution of IT capabilities suggests a continuous enhancement of tools and systems, enabling more sophisticated data management and communication.
An example of Internet-based e-Commerce includes platforms like Amazon and eBay, where transactions occur online.
A characteristic NOT associated with electronic markets is a single point of transaction, as they typically involve multiple buyers and sellers.
Telemarketing is NOT considered a form of e-commerce, as it relies on direct communication rather than digital transactions.
An example of an electronic market would be an online auction site, where various items are sold to the highest bidder.
E-commerce systems used for recurrent trade exchanges between commercial organizations are often referred to as B2B (business-to-business) systems.
The primary function of an electronic market is to connect buyers and sellers, facilitating market transactions and offering a platform for price comparison.
A true statement about Internet commerce is that it allows for a global reach, enabling businesses to target wider audiences.
A type of e-commerce system NOT mentioned includes personal transactions among individuals that do not involve a business platform.
The primary focus of Electronic Markets (EMS) is to create efficient markets by providing structured environments for transactions and negotiations.
An aspect NOT considered part of the overall sphere of e-Commerce includes traditional brick-and-mortar retailing without a digital component.
The period characterized by the rise of Management Information Systems (MIS) is the late 20th century, particularly the 1980s and 1990s.
A key characteristic of EDI is its ability to automate the exchange of documents and data between businesses, minimizing human intervention.
The most general definition of e-Commerce includes any form of business transaction conducted electronically over the internet.

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Description

Test your knowledge on electronic markets and Electronic Data Interchange (EDI), which provide standardized systems for trade transactions. Learn about how information and communications technology is used in presenting market offerings and making purchase decisions.