What is the process in which a buyer posts its interest in buying a certain quantity of items, and sellers compete for the business by submitting successively lower bids until there is only one seller left?
A. B2B marketplace
B. Intranet
C. Reverse auction
D. Internet
Answer: Option C
Solution(By Examveda Team)
Reverse auction is the process in which a buyer posts its interest in buying a certain quantity of items, and sellers compete for the business by submitting successively lower bids until there is only one seller left.Related Questions on eCommerce
The dimension of e-commerce that enables commerce across national boundaries is called _______.
A. interactivity
B. global reach
C. richness
D. ubiquity
Which of the following describes e‐commerce?
A. Doing business electronically
B. Doing business
C. Sale of goods
D. All of the above
Which of the following is part of the four main types for e‐commerce?
A. B2B
B. B2C
C. C2B
D. All of the above
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