Understanding the Definition of Business
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Questions and Answers

What type of business model is Amazon.com most likely an example of?

  • Virtual Marketplace (correct)
  • Auction Broker
  • Marketplace Exchange
  • Merchant Model

Which model primarily relies on banner ads for revenue?

  • Transaction Broker
  • Merchant Model
  • Virtual Marketplace
  • Advertising Model (correct)

What does the PayPal model primarily focus on?

  • Marketplace Exchange
  • Transaction Broker (correct)
  • Merchant Model
  • Advertising Model

Which model involves wholesalers and retailers making sales on the web based on list prices or auctions?

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

What type of advertising model does Google primarily use?

<p>Web Advertising Model (B)</p> Signup and view all the answers

Which business model involves assisting buyers and sellers to understand a market?

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

What is the main difference between e-commerce and e-business?

<p>E-commerce involves buying and selling products electronically, while e-business encompasses the entire value chain of business processes. (A)</p> Signup and view all the answers

Which term refers to automating business processes with the help of information systems?

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

What aspect makes e-business more comprehensive than e-commerce?

<p>E-business involves purchasing and supply chain management. (A)</p> Signup and view all the answers

Which best describes the scope of e-business?

<p>It involves various business processes across the entire value chain. (C)</p> Signup and view all the answers

How is e-commerce viewed by the information technology industry?

<p>As an electronic business application directed towards commercial transactions. (D)</p> Signup and view all the answers

Why are electronic weighing scales preferred over manual weighing systems?

<p>They are accurate and not susceptible to sleight of hand. (D)</p> Signup and view all the answers

What is a major advantage of farmers being recognized as integral business partners in the supply process?

<p>They get to access information through the portal to improve yields. (A)</p> Signup and view all the answers

How does the direct procurement from the farmer benefit the processor?

<p>Reduces transaction costs through more intermediaries. (D)</p> Signup and view all the answers

Why are e-portal offerings preferred over products from village traders for farmers?

<p>They offer a substantial cost reduction compared to local sources. (A)</p> Signup and view all the answers

How has the direct interaction between processors and farmers impacted the agri-sector positively?

<p>It has improved product quality and reduced handling losses. (D)</p> Signup and view all the answers

Why has the area under soy cultivation increased while the total procurement at the mandis has decreased?

<p>Direct procurement from farmers leads to a decrease in total procurement. (D)</p> Signup and view all the answers

What did Dr. Andy Grove, Intel Chairman, predict about companies in the future?

<p>They will all be Internet companies or they will be dead (B)</p> Signup and view all the answers

Which of the following is NOT a definition of 'business' according to the Oxford English Dictionary?

<p>a scientific theory (D)</p> Signup and view all the answers

What is a necessary condition for a business to make a profit?

<p>Having enough customers to whom its output can be sold on a consistent basis (B)</p> Signup and view all the answers

What is a characteristic of a business, according to Wikipedia?

<p>It is involved in the provision of goods and services to consumers (C)</p> Signup and view all the answers

What type of business ownership is NOT mentioned in the Business Dictionary definition?

<p>Foreign-owned (B)</p> Signup and view all the answers

According to David A., what should a business have?

<p>A defined strategy and a manager with sales and profit responsibility (A)</p> Signup and view all the answers

What are the components of the Kiosk infrastructure in the village?

<p>PC, UPS, Dot matrix printer, Telephone &amp; Internet connectivity (A)</p> Signup and view all the answers

What is the purpose of identifying a 'Prathinidhi' in the selected village?

<p>To establish the Kiosk infrastructure (B)</p> Signup and view all the answers

What are the benefits of training Prathinidhi and a group of farmers in PC operation and Portal use?

<p>To empower farmers in decision making (C)</p> Signup and view all the answers

What is the role of agents in the current procurement system?

<p>To provide loans and manipulate prices (A)</p> Signup and view all the answers

What are the disadvantages of the current procurement system for farmers?

<p>All of the above (D)</p> Signup and view all the answers

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