ECOM101
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TestBank CH 2-7 - MCQ & TF ONLY Exam (elaborations) ECOM101
- Exam (elaborations) • 66 pages • 2021
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E-commerce 2013, 9e (Laudon/Traver) 
Chapter 2 E-commerce Business Models and Concepts 
 
1) A value proposition defines how a company's product or service fulfills the needs of a customer. 
Answer: TRUE 
 
 
2) The terms revenue model and financial model can be used interchangeably. 
Answer: TRUE 
 
 
3) In order to be considered successful, a firm must produce returns greater than alternative investments. 
Answer: TRUE 
 
 
4) An asymmetry exists whenever one participant in a market has ...
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