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10 Cards in this Set
- Front
- Back
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How does the bidding process operate in a double auction?
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Both buyers and sellers submit price quantity bids to an auctioneer who matches them up.
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What is a Dutch auction?
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A type of open auction where the bidding starts a high pricing drops until a bidder accepts a price.
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How does the bidding process work in a first price sealed bid auction?
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Bidders submit their bids independently and privately with the highest bidder winning the auction.
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What is an open auction?
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An auction where bids are publicly announced.
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What is a Yankee auction?
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A type of English auction that offers multiple units for sale and that allows bidders to specify the quantity of items they want to buy.
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Define “virtual community”
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Virtual community is a gathering place for people and businesses that do not have a physical existence.
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Why are virtual communities important?
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Virtual communities help companies, customers, and suppliers to plan, collaborate, transact business, and interact in ways that benefit all of them.
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What has happened to most virtual communities?
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Most virtual communities have closed or been sold to companies like Yahoo.
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What is a portal?
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A site designed to be where the user always wants to start and stay. One rough measure of stickiness is how long each user spends at the site.
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Give an example of sticky functions.
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Chat rooms, e-mail, and calendar functions.
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