Which of the following is a key difference between auctions and clearinghouses?
A) Auctions are used for low-value products whereas clearinghouses are used for high-value products.
B) Clearinghouses take title to the goods they sell whereas auctions do not.
C) Clearinghouses facilitate B2B sales whereas auctions facilitate B2B and B2C sales.
D) Auctions support a competitive bidding process whereas clearinghouses sell at a stated price.

Question

Quizplus · Accepted Answer

The key difference between auctions and clearinghouses is the bidding process. Auctions allow for competitive bidding among buyers, whereas clearinghouses sell goods at a stated price. The other options are incorrect because auctions and clearinghouses can be used for goods of varying values, both may or may not take title to the goods sold, and both can facilitate B2B and B2C sales depending on the specific platform.

Which of the Following Is a Key Difference Between Auctions