5 Written questions
5 Matching questions
- Response Time
- Real-Time Marketing
- a An encrypted representation of a paper check. Checks are written and sent electronically.
- b Digital cash that is drawn directly from the consumer's bank account and stored in a digital wallet on a hard drive; e-cash is also known as Scrip, digital cash, or digital coins.
- c The amount of time it takes a seller to respond to a customer's inquiry for purchase or service.
- d the ability of a government to exert control over a person or corporation
- e A term that refers to immediate processing of an online purchase.
5 Multiple choice questions
- the act of becoming worldwide in scope or application
- The "paperless" transfer of funds from an employer or other agency to the account of an employee or beneficiary. Instead of receiving a check on payday, the employee will receive a check stub only. This saves the employee the inconvenience of a trip to the bank to make the deposit F2F.
- The process of using a financial formula (incorporating current exchange rates) to convert a given amount of one currency to its equivalent value in another currency.
- The ability to have face-to-face interaction with business counterparts, clients, customers, etc, at remote locations via the internet and computer video capture devices. As the speed of internet connections become faster, the use of video-conferencing is expected to have a major influence on the way we do business. It allows for international "virtual meetings" to occur without the inconvenience of time and travel.
- The process of counting and collecting information on current inventory manually. This is done on a periodic basis, unlike Continuous Inventory Control. Therefore, it is not well-suited to online selling as the current inventory status is not regularly updated.
5 True/False questions
Distribution Channels → A company produces goods or services and then delivers those goods and services to the consumer without using an intermediary. This is a primary benefit to online shopping as consumers prefer immediate delivery.
Transaction taxes → include sales taxes, use taxes, and excise taxes, are levied on the products or services that the business sells; the sales tax issue is probably one of the most immediate concerns of e-businesses today.
Disintermediation → The process of losing distribution channels when they are no longer needed. The growth of e-commerce has effected the need for retail intermediaries or "middlemen" that exist between the producer and the consumer. One example would be the effect that Online Ticket Purchases has had on Travel Agencies. Consumers are learning that the ability to buy directly from the producer saves money as the cost markup that occurs with the "middleman" has been eliminated.
Continuous Inventory Control → The process of managing product inventory where the information is updated instantaneously each time there is an increase or decrease to the stock-in-hand. This is the type of inventory management that is necessary to e-Commerce businesses as it enables the seller to provide customers with product availability information that is current.
Profitability → The conditions which determine a company's ability to make a profit after their expenses are deducted from their income from sales. Variables include overhead such expenses as facility, equipment, inventory, distribution and wages. E-Commerce businesses have improved their overall profitability through the increased productivity achieved through the speed of the internet and the ability to eliminate intermediary costs.