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37 Cards in this Set
- Front
- Back
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Apps
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Application software that is sold for use on mobile phones
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Ascending-price auction
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A type of auction in which bidders publicly announce their successively higher bids until no higher bid is forthcoming. Also known as an English auction
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Auction consignment services
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Companies that take an item and create an online auction for that item, handle the transaction, and remit the balance of the proceeds after deducting a fee. These services are performed on behalf of people and small businesses who want to use an online auction but do not have the skills or the time to become a seller
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Auctioneer
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The person who manages an auction
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Bidders
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A potential buyer at an auction; one who places bids
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Bids
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An offer of a certain price made on an item that is up for auction
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Bulletin board system (BBS)
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Computers that allow users to connect through modems (using dial-up connections through telephone lines) and post messages in a common area
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Consumer-to-business
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An industry term for electronic commerce that occurs in general consumer auctions; bidders at a general consumer auction might be businesses
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Descending-price auctions
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Synonymous with Dutch auction, which is an open auction in which bidding starts at a high price and drops when a bidder accepts the price.
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Double auction
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A type of auction in which buyers and sellers each submit combined price-quantity bids to an auctioneer. The auctioneer matches the sellers’ offers (starting with the lowest price, then going up) to the buyers’ offers (starting with the highest price. then going down) all of the quantities are sold.
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Dutch auction
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A form of open auction in which bidding starts at a high price and drops until a bidder accepts the price
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English auction
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A type of auction in which bidders publicly announce their successively higher bids until no higher bid is forthcoming
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Escrow service
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An independent third party who holds an auction buyer’s payment until the buyer receives the purchased item and is satisfied that it is what the seller represented it to be.
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First-price sealed-bid auction
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A type of auction in which bidders submit their bids independently and privately, with the highest bidder winning the auction
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Group purchasing site
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A type of auction Web site that negotiates with a seller to obtain lower prices on an item as individual buyers enter bids on that item
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Idea-based networking
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The act of participating in Web communities that are based on the connections between ideas
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Idea-based virtual communities
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A Web community based on the connections between ideas
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Jailbreaking
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Modifying an Apple iPhone’s operating system
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Liquidation brokers
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An agent that finds buyers for unusable and excess inventory
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Lock-in effect
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The inherent greater value to customers of existing companies than new sites
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Meetup
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An in-person between people who are acquainted through a blog
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Short messaging service
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A protocol used to transmit short text messages to cell phones and other wireless devices
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Snipe
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The act of placing a winning bid in an online auction at the last possible moment
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Sniping software
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Auction software that observes auction progress until the last second or two of the auction clock, and then places a bid high enough to win the auction
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Social networking site
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A Web site that individuals and businesses can use to conduct social interactions online
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Social shopping
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The practice of bringing buyers and sellers together in a social network to facilitate retail sales
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Tablet devices
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A small computing device with wireless connectivity that is larger than a mobile phone but smaller than most laptop and notebook computers
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Tweets
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A short message sent from one Twitter user to another
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Usenet
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One of the first mailing lists; it allows subscribers to read and post articles within the topic area
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Usenet newsgroups
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Message posting areas on Usenet computers in which interested persons (primarily from the education and research communities) can discuss these topic areas
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Vickrey auctions
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Synonymous with second-bid auction. Named for William Vickrey, who won the 1996 Nobel Prize in Economics for his studies of the properties of the auction type
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Virtual community
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A electronic gathering place for people with common interests
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Virtual learning network
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A virtual community used for distance learning
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Web community
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Synonymous with virtual community
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Winner’s curse
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A psychological phenomenon that causes bidders to become caught up in the excitement of competitive bidding and bid more than their private valuation
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Wireless Application Protocol (WAP)
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A protocol that allows Web pages formatted in HTML to be displayed on devices with small screens, such as PDAs and mobile phones
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Yankee auction
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A type of English auction that offers multiple units of an item for sale and allows bidders to specify the quantity of items that they want to buy
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