An Auction in Which the Buyer Places an Item for Bid

question 78

Multiple Choice

An auction in which the buyer places an item for bid on a request for quote system,potential suppliers bid on the job,with the price reducing sequentially,and the lowest bid wins; this describes

• A) forward auctions.
• B) reverse auctions.
• C) bidding auction system.
• D) tendering system.

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Definitions:

Vinzo Pharmaceuticals

A hypothetical or specific company involved in the research, development, and distribution of pharmaceutical products.

Merger

The combination of two or more companies into a single entity, typically with the aim of boosting competitiveness or market share.

Join Forces

To unite or collaborate with others for a common purpose or goal.

One Entity

Refers to a singular organization, business, or individual regarded as a single unit for legal, financial, or operational purposes.