All of the Following Statements Are True Except

question 42

Multiple Choice

All of the following statements are True except:

• A) in a B2C auction, consumers sell goods to other consumers.
• B) auctions constituted a significant part of B2B e-commerce in 2014.
• C) over a third of procurement officers use auctions to procure goods.
• D) Sam's Club is an example of an online B2C auction

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Definitions:

Tariff

A tax imposed on imported goods and services, aimed at making these goods costlier and protecting domestic industries.

Fixing Exchange Rates

The act of establishing the value of one currency in terms of another through government or central bank intervention, rather than allowing it to be determined by market forces.

Black Markets

Underground economies where goods or services are traded illegally, bypassing official regulations or laws.

Convertibility

The ease with which one currency can be exchanged for another, indicating how freely a country's currency can be traded on the international market.