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Web 2.0 and Ecommerce Technologies Quiz

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Questions and Answers

Which of the following is NOT a unique feature of e-commerce technology?

Universal standards

Ubiquity

Complexity of message (correct)

Global reach

What is the relationship between the richness of a message and the reach of that message?

They are directly proportional - the greater the reach, the greater the richness.

Richness and reach have a complex, non-linear relationship that depends on other factors.

They are inversely proportional - the greater the reach, the less the richness. (correct)

They are unrelated - richness and reach are independent of each other.

Why does the ubiquity of e-commerce technology reduce transaction costs?

It provides access to a wider range of product and service options.

It reduces the need to travel to a physical marketplace. (correct)

It increases the number of potential buyers and sellers.

It allows for more efficient processing of payments.

How does the global reach of e-commerce technology increase competition?

It allows businesses to reach a larger customer base worldwide. Signup and view all the answers

What is the primary benefit of the universal standards used in e-commerce technology?

It allows for seamless integration of different e-commerce platforms. Signup and view all the answers

How does e-commerce technology address the issue of information asymmetry?

E-commerce technology does not address information asymmetry, as it is a structural issue in markets that cannot be solved by technology alone. Signup and view all the answers

What is the key feature that distinguishes the internet from traditional media like TV?

Interactivity Signup and view all the answers

What does the term 'information density' refer to?

Both A and B Signup and view all the answers

What is the difference between personalization and customization in the context of e-commerce?

Personalization refers to targeting marketing messages, while customization refers to changing the actual product or service Signup and view all the answers

What is the significance of social technology in e-commerce?

It allows users to generate and distribute content on a large scale Signup and view all the answers

How do companies leverage the information density provided by e-commerce?

By mining data about customers to target them with personalized marketing messages Signup and view all the answers

Which of the following statements is true about the potential of e-commerce, according to the text?

It enables interactive and personalized communication between merchants and consumers Signup and view all the answers