In _________ auctions, one buyer wants to purchase a product or a service; these auctions result in _________ prices over time.
A) forward; higher
B) forward; lower
C) reverse; higher
D) reverse; lower

Question

Quizplus · Accepted Answer

In reverse auctions, one buyer wants to purchase a product or service, and suppliers compete to offer the lowest price, resulting in lower prices over time.

In _________ Auctions, One Buyer Wants to Purchase a Product