Examlex
In China,business behavior revolves around guanxi,or personal relations.
Reserve Price
The minimum price a seller is willing to accept for an item being sold at auction.
English Auction
A type of auction in which the price ascends as participants sequentially bid higher prices until only one bidder remains, who wins the item.
Reserve Price
This is the minimum price a seller is willing to accept for an item in an auction.
Profit-Maximizing
A strategy or process aimed at increasing a company's profits to the highest possible level.
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