Figure 5-5b
-Which type of auction does Figure 5-5b represent?
A) traditional auction
B) inverse auction
C) reverse auction
D) horizontal auction
E) reciprocal auction

Question

Figure 5-5b
-Which type of auction does Figure 5-5b represent?
A) traditional auction 
B) inverse auction 
C) reverse auction 
D) horizontal auction 
E) reciprocal auction

Quizplus · Accepted Answer

A reverse auction is a type of auction where the roles of buyer and seller are reversed, with sellers competing to obtain business from the buyer and prices typically decreasing as the sellers underbid each other.

Figure 5-5b -Which Type of Auction Does Figure 5-5b Represent