Which of the following statements is true of online auctions?
A)It is a cost-effective method for selling excessive inventory.
B)It is based on the barter business model.
C)It is a method used to bring buyers and sellers together in a real marketplace.
D)It is useful in setting the price of goods when their price has already been set.

Question

Quizplus · Accepted Answer

Online auctions provide a cost-effective method for selling excessive inventory as they enable sellers to reach a large audience and attract bids from potential buyers across the globe. This helps to avoid the costs associated with traditional retail that can involve warehousing, distribution, and commissions paid to middlemen.

Which of the Following Statements Is True of Online Auctions