A major method of procuring goods and services in the buy-side model is the _________ auction.
A) downward
B) forward
C) reverse
D) upward

Question

Quizplus · Accepted Answer

In the buy-side model, a major method of procuring goods and services is the reverse auction. In this type of auction, the roles of buyer and seller are reversed: a single buyer issues a request for a specific good or service, and multiple sellers compete to offer the lowest price, thereby driving prices down.

A Major Method of Procuring Goods and Services in the Buy-Side