________ auctions let would-be suppliers submit only one bid; they cannot know the other bids.
A) Descending bid
B) Sealed-bid
C) English
D) Dutch
E) Reverse

Question

Quizplus · Accepted Answer

Sealed-bid auctions are also known as closed or silent auctions where each participant submits a single bid, and the bids are not revealed until the end of the auction. This auction format is commonly used in government procurement or in situations where confidentiality is critical.

________ Auctions Let Would-Be Suppliers Submit Only One Bid; They