An auction in which a seller entertains bids from buyers,and the bidders increase price sequentially best defines
A) forward auctions.
B) reverse auctions.
C) bidding auction system.
D) tendering system.

Question

Quizplus · Accepted Answer

A forward auction is an auction in which a seller starts with a low asking price and bidders increase the price sequentially. This type of auction is commonly used for selling goods or services to the highest bidder. The seller entertains bids from buyers, and the bidders increase price sequentially until the auction ends.

An Auction in Which a Seller Entertains Bids from Buyers,and