An auction that takes place between sellers and buyers in one industry or for one commodity is called a vertical auction because activity goes up and down the supply chain in a single industry,rather than horizontally between members of supply chains in different industries.

Question

Quizplus · Accepted Answer

The statement accurately defines a vertical auction as an auction that takes place within a single industry or for a specific commodity, which involves sellers and buyers up and down the supply chain. Thus, the statement is true.

An Auction That Takes Place Between Sellers and Buyers in One