What is the process in which a buyer posts its interest in buying a certain quantity of items, and sellers compete for the business by submitting successively lower bids until there is only one seller left?

A B2B marketplace
B Intranet
C Reverse auction
D Internet

Correct Answer: Reverse auction

Reverse auction is the process in which a buyer posts its interest in buying a certain quantity of items, and sellers compete for the business by submitting successively lower bids until there is only one seller left.
Bissoy MCQ
#Commerce #ECommerce

Related Questions

Type of bids which states complete description about quantity of bids and prices of bids is classified as
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A man sells chocolates which are in the boxes. Only either full box or half a box of chocolates can be purchased from him. A customer comes and buys half the number of boxes which the seller had plus half box more. A second customer comes and purchases half the remaining number of boxes plus half a box. After this the seller is left with no chocolate boxes. How many chocolate boxes the seller had initially?
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B 3
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যে বাজারে একজন মাত্র ক্রেতা কিন্তু অসংখ্য বিক্রেতা তাকে কী বলে? (If a market comprises only one buyer but many sellers, then what is it called?)
A একচেটিয়া বাজার (Monopoly)
B ডুয়োপলি (Duopoly)
C মনোপসনি (Monopsony)
D ডুয়োপসনি (Duopsony)
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Which number will compete compete the series 3,19, 41, 71, 111 ____?
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A farmer is constructing a fence by stringing wire between two posts 20 feet apart. In the fence is 600 feet long. how many posts must the farmer.
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B 30
C 31
D 32
A farmer is constructijng a fence by stringing wire between two posts 20 feet apart. If the fence is 600 feet long, how.many posts must the farmer use?
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B 30
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