Which Statement Is True of Auctions

question 21

Multiple Choice

Which statement is true of auctions?

• A)The organization hosting an auction collects transaction fees for the service.
• B)The number of goods sold via traditional auctions is higher than that sold via online auctions.
• C)Goods already having a set price in the marketplace are usually auctioned.
• D)Online auctions are based on the barter business model.

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Definitions:

Commission-Based

A payment structure where an employee or agent is paid based on a percentage of the sales they generate or deals they close.

Compensation

The payment or benefits received for services or employment, including wages, salary, and other perks.

Letter Grade

A score or grade that is assigned to a student's performance in a course, typically expressed as letters (A, B, C, D, F).

Grade Point Value

A numerical value assigned to a grade that measures academic performance, often on a scale like 4.0 for an "A."