Which statement is true of auctions?
A)The organization hosting an auction collects transaction fees for the service.
B)The number of goods sold via traditional auctions is higher than that sold via online auctions.
C)Goods already having a set price in the marketplace are usually auctioned.
D)Online auctions are based on the barter business model.

Question

Quizplus · Accepted Answer

Auctions often involve the organization hosting the auction collecting transaction fees for providing the service. This is a common way for these organizations to generate revenue. Traditional auctions do not necessarily sell more goods than online auctions, especially given the rise of platforms like eBay. Goods auctioned do not always have a set price in the marketplace; auctions can be used for unique or rare items where the market price is not clear. Online auctions are not based on the barter business model; they involve bidding money for items, not trading goods or services directly.

Which Statement Is True of Auctions