Mis Answers Week 2 Essay Example

Question Type: | # Of Questions: | # Correct: | Multiple Choice | 20 | 20 | | |

Grade Details - All Questions |

1. | Question : | The costs incurred when a firm buys on the marketplace what it cannot make itself are referred to as | | | Student Answer: | | switching costs. | | | | transaction costs. | | | | procurement. | | | | agency costs. | | Instructor Explanation: | p. 376 | | | | Points Received: | 1 of 1 | | Comments: | | | | 2. | Question : | Disintermediation | | | Student Answer: | | results from the speed of the Internet. | | | | is defined as the elimination of layers in the distribution process. | | | | is a result of social networking. | | | | All of the above | | Instructor Explanation: | p. 379 | | | | Points Received: | 1 of 1 | | Comments: | | | | 3. | Question : | The four major types of competitive strategy are: | | | Student Answer: | | low-cost leadership; substitute products and services; customers; and suppliers. | | | | low-cost leadership; product differentiation; focus on market niche; and customer and supplier intimacy. | | | | new market entrants; substitute products and services; customers; and suppliers. | | | | low-cost leadership; new market entrants; product differentiation; and focus on market niche. | | Instructor Explanation: | p. 96 | | | | Points Received: | 1 of 1 | | Comments: | | | | 4. | Question : | Information asymmetry exists when | | | Student Answer: | | the network is overloaded. | | | | sellers and buyers have the same information. | | | | one party in a transaction has more important information than the other. | | | | manufactures provide online data to customers. | | Instructor Explanation: | p. 378 | | | | Points Received: | 1 of 1 | | Comments: | | | | 5. | Question