The resource allocation method used for the online auctions on eBay is
A) lottery.
B) market price.
C) first-come, first-served.
D) sharing equally.
E) contest.

Question

Quizplus · Accepted Answer

The resource allocation method used for the online auctions on eBay is market price. eBay's auction system determines the market price as buyers compete against each other to bid on items for sale. The highest bidder at the end of the auction wins the item, and the seller receives the market price for it. This method ensures that the price of the item is fair and reflective of its market value, as well as encourages competitive bidding.

The Resource Allocation Method Used for the Online Auctions on EBay