Reverse auctions:

Question

Reverse auctions:

Quizplus · Accepted Answer

Reverse auctions are buyer-initiated, meaning that it is the buyer who starts the auction process by posting a request for goods or services and inviting sellers to bid on it. Option B is incorrect because reverse auctions are generally considered to benefit buyers by allowing them to solicit bids from multiple sellers and select the most competitive one. Option C is also incorrect because the number of bidders in a reverse auction can vary depending on the complexity and value of the goods or services being procured. Finally, option D is incorrect because reverse auctions typically involve simultaneous bidding rather than sequential bidding.

Reverse Auctions