An Auction in Which a Buyer Communicates a Need for a Product

question 80

Multiple Choice

An auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a

• A) vertical auction.
• B) reverse auction.
• C) horizontal auction.
• D) traditional auction.
• E) reciprocal auction.

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Definitions:

Social Computing

Refers to the use of computational devices to facilitate or enhance social interactions, involving the study and design of systems that support social behavior.

Customers

People or organizations that buy products or services from a company.

Snapcash

A digital payment service that allows users to transfer money through the Snapchat app, discontinued as of its service end.

Venmo

A digital wallet service that allows users to send and receive money electronically.