Explain the differences among e-shops, e-malls and online auctions.
What will be an ideal response?
An e-shop is a version of a retail store where customers can shop at any hour of the day without leaving
their home or office. An e-mall consists of a number of e-shops; it serves as a gateway through which a
visitor can access other e-shops. An online auction is a place where buyers and sellers come together to
auction items and prices are determined dynamically.
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When Lofonift Inc. introduced its flagship MP3 player, it captured the market by offering the product at a very low price. This gradually forced many of its competitors out of business. Once its competitors were out of business, Lofonift Inc. raised the price. In this scenario, Lofonift Inc. most likely indulged in _____.
A. predatory pricing B. price discrimination C. status quo pricing D. price fixing
Web sites can be classified by purpose as represented by the term:
A) matrix sites. B) international sites. C) geographic sites. D) promotion sites. E) regional sites.
All of the following are external users of accounting information except:
A. Chief executive officer (CEO). B. Customers. C. Lenders. D. Shareholders. E. Board of directors.
All of the following are questions to ask about demand patterns and their underlying causes EXCEPT ____________
a. Do demand levels follow a predictable cycle? b. What are the underlying causes of these cyclical variations? c. How much demand are competitors receiving? d. Do demand levels seem to change randomly? e. Can demand for a particular service over time be disaggregated by market segment?