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B Com Exam  >  B Com Tests  >  Test: Business Models & Concepts - 1 - B Com MCQ

Test: Business Models & Concepts - 1 - B Com MCQ


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10 Questions MCQ Test - Test: Business Models & Concepts - 1

Test: Business Models & Concepts - 1 for B Com 2024 is part of B Com preparation. The Test: Business Models & Concepts - 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Business Models & Concepts - 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Business Models & Concepts - 1 below.
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Test: Business Models & Concepts - 1 - Question 1
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What is the main focus of Business to Consumers e-commerce (B2C)?

Detailed Solution for Test: Business Models & Concepts - 1 - Question 1
The main focus of B2C e-commerce is to provide customers with a secure payment method, ensure transaction integrity, and offer quick response times. These factors are important to build customer trust and provide a seamless online shopping experience.
Test: Business Models & Concepts - 1 - Question 2
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Which website is mentioned as a popular example of B2C e-commerce?

Detailed Solution for Test: Business Models & Concepts - 1 - Question 2
The text mentions Amazon.com as the most popular website for B2C e-commerce. It has become a potential competitor to traditional brick-and-mortar booksellers, offering customers a wide range of products to buy online.
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Test: Business Models & Concepts - 1 - Question 3
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Which e-commerce model empowers the customer by allowing them to set their preferred price?

Detailed Solution for Test: Business Models & Concepts - 1 - Question 3
The C2B e-commerce model empowers customers by allowing them to set their preferred price for a product or service. An example provided is Price line.com, where customers can indicate their preferred price for travel between two cities and if an airline is willing to accept that price, the customer can travel on their terms.
Test: Business Models & Concepts - 1 - Question 4
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Which e-commerce model focuses on marketing a corporation's internal processes more efficiently?
Detailed Solution for Test: Business Models & Concepts - 1 - Question 4
B2E e-commerce focuses on marketing a corporation's internal processes more efficiently. It includes activities such as customer care, support, and self-service applications for employees to use. The goal is to streamline internal operations and improve overall efficiency.
Test: Business Models & Concepts - 1 - Question 5
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What is the main characteristic of Consumer to Consumer e-commerce (C2C)?
Detailed Solution for Test: Business Models & Concepts - 1 - Question 5
C2C e-commerce involves consumers directly selling and buying goods from each other. Online auction sites, such as e-Buy Bid or Buy.com, provide a platform for individuals to virtually sell and buy new or used goods from other consumers.
Test: Business Models & Concepts - 1 - Question 6
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What is the largest mode of transacting e-business?
Detailed Solution for Test: Business Models & Concepts - 1 - Question 6
B2B e-commerce is expected to be the largest mode of transacting e-business globally. It involves commercial linkages between businesses, dealers, or manufacturers. Businesses can directly place orders for supplies with other businesses over the internet, reducing paperwork and time required for processing orders and delivery of goods.
Test: Business Models & Concepts - 1 - Question 7
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What is the main advantage of online shopping?
Detailed Solution for Test: Business Models & Concepts - 1 - Question 7
The main advantage of online shopping is convenience. Customers can shop from the comfort of their homes or offices 24/7, without the need to physically visit stores. Online shopping also provides access to a wide range of products and the ability to compare prices from different retailers easily.
Test: Business Models & Concepts - 1 - Question 8
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What are the four essential security requirements for secure electronic payment?
Detailed Solution for Test: Business Models & Concepts - 1 - Question 8
The four essential security requirements for secure electronic payment are authentication (verifying the buyer's identity), encryption (making messages indecipherable except by authorized parties), non-repudiation (preventing denial of transactions), and integrity (ensuring information is not altered or destroyed during transmission).
Test: Business Models & Concepts - 1 - Question 9
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What is the goal of an Electronic Payment System (EPS)?
Detailed Solution for Test: Business Models & Concepts - 1 - Question 9
The goal of an Electronic Payment System (EPS) is to protect customers from merchant's fraud, allow people without credit cards to engage in online transactions, and protect customer confidentiality. EPS aims to create analogs of checks and cash on the internet, providing secure and convenient payment options.
Test: Business Models & Concepts - 1 - Question 10
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What are the advantages of using an Electronic Payment System (EPS)?
Detailed Solution for Test: Business Models & Concepts - 1 - Question 10
The advantages of using an Electronic Payment System (EPS) include decreasing technology cost, reduced operational and processing costs, increasing online commerce, and providing increased convenience and faster payment processing. EPS allows for efficient and secure financial transactions, benefiting both businesses and customers.
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