Select the proper option from the options given below and rewrite the completed sentence:
In e-business payments have to be made ________.
(a) in cash
(b) on credit
(c) online
ANSWER:
Correct option - c
In e-business, payments have to be made online.
Explanation:
Electronic business or e-business refers to the trading of goods and services through computer systems and online networks. In this type of business, there is no exchange of cash across the counter, as payment is made online through the web with the help of payment gateways.
The term “e-business” is derived from the terms ________ and e-commerce.
(a) e-mail
(b) e-pay
(c) cash
ANSWER:
Correct option - a
The term “e-business” is derived from the terms e-mail and e-commerce.
Explanation:
The word e-business is derived from the terms “e-mail” and “e-commerce”. This is because it uses electronic medium (internet) not only for conducting online transactions and mails but also for carrying out other business functions such as production, inventory management, product development and accounting.
The transactions under ________ are between business firms and consumers.
(a) C to C
(b) B to C
(c) B to B
ANSWER:
Correct option - b
The transactions under B to C are between business firms and consumers.
Explanation:
B to C, i.e., business to consumer, refers to commercial transactions between business firms and consumers. Other types of transactions include, C to C, i.e., consumer to consumer, which refers to commercial transactions that take place between consumers. B to B, i.e., business to business, refers to business transactions that take place between two business firms.
The process of contracting a business function to someone else is called as ________.
(a) e-business
(b) outsourcing
(c) trading
ANSWER:
Correct option - b
The process of contracting a business function to someone else is called as outsourcing.
Explanation:
Outsourcing is the process of contracting out less important (i.e., non-core) business activities to external agencies. These external agencies are highly specialised and enjoy expertise in specific business activities, such as advertisement and promotion of products and post-sale services. By outsourcing less important business activities, firms can focus on important (i.e., core) activities.
For online transaction, ________ is required.
(a) trading
(b) registration
(c) business
ANSWER:
Correct option - b
For any online transaction, registration is required.
Explanation:
Registration is required for making an online transaction. If someone wants to buy goods from a particular website, then he/she needs to register with the online vendor by filling up a registration form. While registering, the buyer is required to key in details such as his or her name, address, unique user name and secret password.
The online shopper can pick and drop the things in the ________.
(a) shopping mall
(b) shopping cart
(c) shopping bag
ANSWER:
Correct option - b
The online shopper can pick and drop the things in the shopping cart.
Explanation:
After making an account on the website, an online shopper can select the products that he/she wishes to purchase and add them to the shopping cart. A shopping cart basically keeps an online record of what a customer wants to buy. It displays the products shortlisted by the customer so that the customer can take the final decision of purchasing or not purchasing the products.
An electronic facility of transferring funds through the internet is _______ transfer.
(a) cash
(b) net banking
(c) credit
ANSWER:
Correct option - b
An electronic facility of transferring funds through the internet is net banking transfer.
Explanation:
Net banking permits the customers to carry banking transactions on the internet. Under net banking, there is no physical movement; instead, money is transferred from one account to another through the internet.
Credit or debit cards are popularly known as ________ money.
(a) paper
(b) plastic
(c) polymer
ANSWER:
Correct option - b
Credit or debit cards are popularly known as plastic money.
Explanation:
Credit or debit cards are known as plastic money because of the following reasons:
1) They are made up of plastic.
2) They act as money; i.e., they can be used to make payments.
In bigger shops situated in shopping malls or branded stores, there is a ________ terminal.
(a) SSL
(b) POS
(c) HTTP
ANSWER:
Correct option - b
Shops in shopping malls and branded stores usually have POS terminals.
Explanation:
A point of sale (POS) terminal is an electronic device used to record a sales transaction. It scans the bar code printed on the product and records important details regarding the product on the computer, for example, the product code and the product price. Thus, it helps in maintaining a systematic record of the sales made.
Wedding planning is an example of ________.
(a) corporate organisation
(b) outsourcing
(c) buying and selling of goods
ANSWER:
Correct option - b
Wedding planning is an example of outsourcing.
Explanation:
Wedding planning is an example of outsourcing, as the wedding planner outsourced services such as decoration, lighting and catering to external agencies. These agencies are highly specialised in their respective areas of activity.
Match the pairs:
ANSWER:
The above columns can be correctly matched as:
Explanation:
a. E-business (i.e., electronic business) is derived from the terms “e-mail” and “e-commerce”. It refers to the trading of goods and services through computer systems and online networks. There is no exchange of cash or money across the counter and the payment is made online with the help of payment gateways.
b. B to C stands for business to consumer. It refers to commercial transactions between business firms and consumers. In this type of e-business transaction, firms give information about their products on their websites along with information about the delivery services they provide.
c. The expanded form of ATM is automated teller machine. ATM is an electronic machine that offers convenience to customers, as they can deposit or withdraw money from their accounts anytime, without having the need to visit the branch of the bank.
d. A payment gateway is an e-commerce application service provider. Retailers, manufacturers, dealers and sellers of goods can make payments online in a secure manner with the help of this application.
e. HTTP stands for Hyper Text Transfer Protocol. It is a standard protocol between the client and the server which is approved by the Internet Engineering Task Force. The primary function of this protocol is to provide security in transmitting confidential information and messages.
Write the word or phrase or term which can substitute each one of the following:
The term derived from the terms email and e-commerce.
ANSWER:
The term derived from the terms email and e-commerce: E-business
Explanation:
E-business is derived from the terms “e-mail” and “e-commerce”. It basically refers to the use of the internet to carry out online transactions and mails. Alongside, it is also used to perform various other business functions such as production, inventory management, product development and accounting.
Name the term which is used by even common man effectively while collecting the needed information quickly.
ANSWER:
Name the term which is used by even common man effectively while collecting the needed information quickly: Internet
Explanation:
Internet is a very simple tool which is easy to understand and use in our daily lives. As no technical course is required to surf on the internet, even a layman can use it effectively to collect information about anything. Thus, we can say that it is user-friendly.
Name the electronic facility of transferring funds through the internet.
ANSWER:
Name the electronic facility of transferring funds through the internet: Net banking
Explanation:
Net banking permits the customers to undertake banking transactions on the internet. Through internet banking, the customers can transfer funds electronically from one account to another.
Name the form of electronic currency that exists only in cyberspace.
ANSWER:
Name the form of electronic currency that exists only in cyberspace: Digital cash
Explanation:
Digital cash has no physical existence; it exists in cyberspace. It is a system of purchasing cash in relatively small amounts and storing it in the computer system. The consumer can spend the cash later when making electronic purchases over the internet.
Name the service provider which is used for payments through the web.
ANSWER:
Name the service provider which is used for payments through web: Payment gateway
Explanation:
A payment gateway is an e-commerce application service provider that is used for making payments through the web. It provides a secured zone through which retailers, manufacturers, dealers, buyers and sellers of goods can make payments online.
Name the modern process of contracting a business function to someone else.
ANSWER:
Name the modern process of contracting a business function to someone else: Outsourcing
Explanation:
Nowadays, firms focus on core activities and contract out non-core activities to some external agencies. For example, activities like security, canteen, cleaning, sanitation, etc are generally outsourced to a third party. This process is known as outsourcing. Firms outsource those activities that are not so essential for them.
