An auction in which the price announced by the auctioneer DESCENDS is called a
A) Dutch Auction.
B) English Auction.
C) Sealed Bid Auction.
D) Descending Option Auction.

Question

Quizplus · Accepted Answer

A Dutch Auction, also known as a descending price auction, is when the auctioneer starts with a high price and gradually lowers it until a bidder agrees to buy at a certain price. This type of auction is commonly used for selling fresh produce, flowers, and fish in wholesale markets.

An Auction in Which the Price Announced by the Auctioneer