An auction in which the business desiring to make a purchase runs the auction and potential sellers bid is known as a

Name: An auction in which the business desiring to make a purchase runs the auction and potential sellers bid is known as a
Brand: Quizplus
Rating: 5.0 (53 reviews)

Question

Quizplus · Accepted Answer

A reverse auction is where the roles of buyer and seller are reversed: instead of sellers offering goods or services and buyers bidding, buyers state what they want to purchase, and sellers compete to offer the lowest price.

An Auction in Which the Business Desiring to Make a Purchase