Asked by Alexandre Al Mokhtari on Jun 19, 2024
Verified
In _________ auctions, sellers solicit bids from many potential buyers; these auctions result in _________ prices over time.
A) forward; higher
B) forward; lower
C) reverse; higher
D) reverse; lower
Forward Auctions
Auctions that sellers use as a selling channel to many potential buyers; the highest bidder wins the items.
Lower Prices
A pricing strategy adopted by businesses to attract more customers by offering goods or services at reduced costs compared to competitors.
- Comprehend the principle of electronic tendering and its operational methods.
Verified Answer
AG
Autumn GillardJun 24, 2024
Final Answer :
A
Explanation :
In forward auctions, sellers solicit bids from many potential buyers, which typically drives prices higher as buyers compete against each other.
Learning Objectives
- Comprehend the principle of electronic tendering and its operational methods.