Internet auctions, such as those on platforms like eBay, allow sellers with specialized items to reach a large number of potential buyers at a low cost, as they do not need to physically advertise their items or rent a physical storefront. This can be particularly useful for individuals or small businesses who may not have the resources for traditional forms of advertising or distribution.

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Internet Auctions

Question 191

Multiple Choice

Internet auctions

A) allow specialized sellers to reach many customers at low cost
B) allow specialized buyers to reach many sellers at low cost
C) always take the form of a Dutch auction
D) always take the form of an English open outcry auction
E) are rapidly being replaced by continuous open outcry auctions

Correct Answer: