COMPUTER APPLICATIONS
E COMMERCE AND E BUSINESS APPLICATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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many seller, many potential buyers
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one buyer, many potential sellers
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one seller, many potential buyers
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one seller, one buyer
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Detailed explanation-1: -Forward auctions are the opposite of a reverse auction. In a forward auction, the auction is initiated by the seller and the buyers bid the price up.
Detailed explanation-2: -English Auction: An English auction is an ascending sequential bid auction. The bidders observe the bids of others and decide whether or not to increase the bid. The bid price keeps increasing as more buyers bid for a higher value. The item is sold to the person that first offers the highest bidder.
Detailed explanation-3: -An auction is a system of buying and selling goods or services by offering them for bidding-allowing people to bid and selling to the highest bidder. The bidders compete against each other, with each subsequent bid being higher than the previous bid.