oDesk and 99designs, two online design firms that submit bids for a provided statement of requirements, work on which type of auction?
A)traditional auction
B)inverse auction
C)online auction
D)reverse auction

Question

Quizplus · Accepted Answer

oDesk and 99designs work on a reverse auction model, where the client posts a project with its requirements, and multiple freelancers or designers bid on the project, competing with each other to offer the lowest bid for the project. The lowest bidder is selected as the winner of the project. Hence, the correct answer is D - reverse auction.

ODesk and 99designs, Two Online Design Firms That Submit Bids