Ecommerce Ch 1 Study Guide Questions And Correct Answers

Which of the following statements is not true? {Ans: Economists take a purely technical approach to e-commerce.}Which of the following is the best definition of transaction cost? {Ans: the cost of participating in a market}All of the following are examples of Web 2.0 sites and applications except {Ans: auction sites}Which of the following is not an element of friction-free commerce? {Ans: Transaction costs are high.}Unfair competitive advantages occur when {Ans: one competitor has an advantage others cannot purchase}In 2016, there were more than ________ Internet hosts {Ans: 1 billion}