A C2B e-business allows a buyer to name his or her own price for specific goods or services in a process called a ____.
A) supply chain
B) forward auction
C) network effect
D) reverse auction

Question

Quizplus · Accepted Answer

A reverse auction is where the buyer sets the price and the sellers compete to offer the lowest bid. This is a common feature of C2B e-business models, allowing consumers to get the best price for goods or services. Forward auctions, on the other hand, involve sellers offering their goods or services to a pool of potential buyers, who bid up the price until the highest bidder wins. Supply chain and network effect are not directly related to the auction process in C2B e-business models.

A C2B E-Business Allows a Buyer to Name His or Her