
Chapter 1 part 2 - E -com
Quiz
•
Arts
•
12th Grade
•
Practice Problem
•
Hard
Jairo Roxas
FREE Resource
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a business model?
An independent digital marketplace where suppliers and commercial purchasers can conduct transactions
A document that describes a firm's business model
A set of planned activities designed to result in a profit in a marketplace
A company that supplies products and services directly to individual businesses
Answer explanation
The correct choice is a business model is a set of planned activities designed to result in a profit in a marketplace.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'value proposition' refer to?
Describes how a company's product or service fulfills the needs of customers
Describes how the firm will earn revenue, generate profits, and produce a superior return on invested capital
A company that offers its users content or services and charges a subscription fee for access to some or all of its offerings
A company that receives a fee for enabling or executing a transaction
Answer explanation
The term 'value proposition' refers to how a company's product or service fulfills the needs of customers, making it the correct choice.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of 'market opportunity'?
The area of actual or potential commercial value in which a company intends to operate
An effort to understand and describe the nature of competition in an industry, the nature of substitute products, the barriers to entry, and the relative strength of consumers and suppliers
The difference between the price a firm is able to charge for its products and the cost of producing and distributing goods
Refers to the company's intended marketspace and the overall potential financial opportunities available to the firm in that marketspace
Answer explanation
The correct definition of 'market opportunity' is the company's intended marketspace and the overall potential financial opportunities available to the firm in that marketspace.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'competitive advantage' in business?
Occurs when one firm develops an advantage based on a factor that other firms cannot purchase
Achieved by a firm when it can produce a superior product and/or bring the product to market at a lower price than most, or all, of its competitors
Efficiencies that arise from increasing the size of a business
An independent digital marketplace where suppliers and commercial purchasers can conduct transactions
Answer explanation
Competitive advantage in business is achieved by a firm when it can produce a superior product and/or bring the product to market at a lower price than most, or all, of its competitors.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of 'Porter's 5 forces' analysis?
To understand and describe the nature of competition in an industry, the nature of substitute products, the barriers to entry, and the relative strength of consumers and suppliers
To describe how a company's product or service fulfills the needs of customers
To coordinate the value chains of several firms
To offer products and services at a lower cost than competitors
Answer explanation
Porter's 5 forces analysis is used to understand and describe the nature of competition in an industry, the nature of substitute products, the barriers to entry, and the relative strength of consumers and suppliers.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main focus of 'e-tailer' as a B2C business model?
Creates an online environment where people with similar interests can transact
Distributes information content, such as digital news, music, photos, video, and artwork
Operates as an online retail store
Processes transactions for consumers that are normally handled in person, by phone, or by mail
Answer explanation
The main focus of 'e-tailer' as a B2C business model is to operate as an online retail store, selling products directly to consumers over the internet.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'e-distributor' do as a B2B business model?
Builds a digital environment where buyers and sellers can meet, display products, search for products, and establish a price for products
Creates and sells access to digital markets
Sells business services to other firms
Supplies products and services directly to individual businesses
Answer explanation
The correct choice 'Supplies products and services directly to individual businesses' accurately describes the role of an e-distributor as a B2B business model.
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