Which of the Following Is True of Internet Auctions

question 23

Multiple Choice

Which of the following is true of Internet auctions?

• A) Business-to-business auctions are likely to fade away in the future.
• B) The seller in a reverse auction sells his products or services to the highest bidder.
• C) The eBay site is the most popular auction site,with more than 100 million buyers and sellers.
• D) Consumers do not trust Internet auctions and how they work.

Understand the variety of goods and services trade brings to a country.

Comprehend the reasons countries engage in trade.

Understand the implications of trade restrictions like tariffs and quotas on international relations and domestic industries.

Understand the factors contributing to the riskiness of credit policies in international finance, including exchange rate considerations and creditworthiness of foreign customers.

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Definitions:

Performance Risk

The perceived potential for a product or service to fail to meet expected performance standards, leading to customer dissatisfaction.

Functional Needs

The basic or practical needs that a product or service fulfills for the customer.

Affective Component

A component of attitude that reflects what a person feels about the issue at hand—his or her like or dislike of something.

Psychological

Pertaining to the mind or mental processes, affecting or involving the psychological state.