Economics Today and Tomorrow

Chapter 22: Cybernomics

Cybernomics

1
Cybernomics is the term used to describe __________
A)the new relationship between buyers and sellers.
B)economics driven by Internet commerce.
C)economics driven by the stock market.
D)the Information Age.
2
The Internet has affected commerce in all the following ways EXCEPT __________
A)it enables people everywhere to access and exchange information instantaneously.
B)markets and competitors encompass the world.
C)it empowers buyers, saving them time and money.
D)it widens the virtual distance between producers and consumers.
3
Computers track online purchases to provide marketers precise information about __________
A)addresses.
B)incomes.
C)spending habits.
D)personal data.
4
E-commerce benefits the consumer in all the following ways EXCEPT __________
A)increasing communication between buyers and sellers.
B)allowing for personalization of marketing efforts.
C)giving consumers less choice.
D)saving the consumer time and money.
5
Which was the MOST important factor in bringing about the Information Age?
A)microchips
B)wireless technology
C)satellites
D)television
6
The characteristics of a knowledge product include all the following EXCEPT __________
A)it has no spatial boundaries.
B)it can be used up physically.
C)it consists of both the product and the idea behind it.
D)its development requires creativity and training.
7
How does innovation affect economic growth?
A)Increased innovation leads to increased economic growth.
B)Decreased innovation leads to increased economic growth.
C)Increased innovation leads to decreased economic growth.
D)Innovation does not affect economic growth.
8
Stock trading that allow customers to trade stock in cyberspace rapidly among themselves is known as __________
A)electronic brokering.
B)online trading.
C)day trading.
D)risky trading.
9
Which of the following statements is NOT a concern associated with protecting intellectual property?
A)Many Internet users offer downloads of software and music at no charge.
B)Pirate CDs steal the royalties from the creators of intellectual property.
C)Stealing intellectual property reduces the incentive to be creative.
D)There is no way to prevent an Internet user from playing online music or publishing electronic documents.
10
Which of the following statements about protecting consumers' privacy in the Information Age is TRUE?
A)Hospitals and doctors are barred from sharing information on individual patients.
B)Because the Internet serves a global community, it is difficult to decide on policy that protects the public and still meets the needs of diverse societies.
C)Businesses are not motivated to protect the privacy of individuals since they have so much to gain from increased market knowledge.
D)Consumers in the United States are calling for fewer government controls on personal information.
11
One way in which technology can help developing countries "leapfrog" some stages of economic development is __________
A)distance education.
B)e-commerce.
C)day trading.
D)frequency marketing.
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