Which of the Following Does NOT Describe Reverse Auctions

question 63

Multiple Choice

Which of the following does NOT describe reverse auctions?

• A)Retail buyers provide a group of potential vendors with a specification for what they want.
• B)There is one buyer,the retailer,and many potential sellers,the manufacturing firms.
• C)Retailers use it to get quality private-label merchandise at low prices.
• D)Reverse auctions are common among commodities and seasonal products.
• E)The retailer chooses the lowest bidder regardless of other factors.

---

Definitions:

Intolerance for Ambiguity

Describes an individual's difficulty in coping with situations that are unclear or lack precise information.

Personality Traits

Relatively stable characteristics or tendencies that can predict how individuals will behave in a wide range of situations.

Big Five Traits

A model proposing that five broad dimensions – openness, conscientiousness, extraversion, agreeableness, and neuroticism – sufficiently capture most aspects of personality.

Universally

Applicable or occurring everywhere or in all cases without exception.