1) Which of the following is a limitation of auctions?? Diversity of offerings Potential for fraud Dynamic nature of sales 2) Which of the following is not a limitation of traditional auctions? Duration of sale Technical ability of buyers Time to examine products 3) Several identical items are offered with a minimum bid. The winner pays the exact price of his bid. What type of auction is being described? English auction Dutch auction Yankee auction 4) One unique item is offered. The price starts high until someone bids and becomes the winner. What type of auction is being described? ? Yankee auction Free-fall auction English auction 5) Which of the following is not a benefit of using wireless phones in auctions? Convenience Privacy Security 6)What is the typical order of the phases of the auction process? Searching and comparing, the actual bidding, getting started at an auction and post auction follow-up Searching and comparing, getting started at an auction, the actual bidding and post auction follow-up Searching and comparing, the actual bidding and post auction follow-up 7) Which of the following is a free method used to help deter fraud in online auctions? Grading services Escrow services User identity verification 8) Second-price sealed-bid auctions are commonly called ______. Victory Auctions Double Auctions Vickrey Auctions 9)Existing auction sites, such as eBay, are inherently more valuable to customers than new auction sites. This is called ______. Lock-In effect Lock-Out effect Opt-Out effect 10) The New York Stock Exchange conducts ____ auctions of stocks and bonds in which the auctioneer, called a specialist, manages the market for a particular stock or bond issue. Second-price Sealed-bid Sealed-bid Double Open-cry Double
1) Which of the following is a limitation of auctions??
Diversity of offerings
Potential for fraud
Dynamic nature of sales
2) Which of the following is not a limitation of traditional auctions?
Duration of sale
Technical ability of buyers
Time to examine products
3) Several identical items are offered with a minimum bid. The winner pays the exact price of his bid. What type of auction is being described?
English auction
Dutch auction
Yankee auction
4) One unique item is offered. The price starts high until someone bids and becomes the winner. What type of auction is being described? ?
Free-fall auction
5) Which of the following is not a benefit of using wireless phones in auctions?
Convenience
Privacy
Security
6)What is the typical order of the phases of the auction process?
Searching and comparing, the actual bidding, getting started at an auction and post auction follow-up
Searching and comparing, getting started at an auction, the actual bidding and post auction follow-up
Searching and comparing, the actual bidding and post auction follow-up
7) Which of the following is a free method used to help deter fraud in online auctions?
Grading services
Escrow services
User identity verification
8) Second-price sealed-bid auctions are commonly called ______.
Victory Auctions
Double Auctions
Vickrey Auctions
9)Existing auction sites, such as eBay, are inherently more valuable to customers than new auction sites. This is called ______.
Lock-In effect
Lock-Out effect
Opt-Out effect
10) The New York Stock Exchange conducts ____ auctions of stocks and bonds in which the auctioneer, called a specialist, manages the market for a particular stock or bond issue.
Second-price Sealed-bid
Sealed-bid Double
Open-cry Double
