What is the process in which a buyer posts its interest in buying a certain quantity of items, andsellers compete for the business by submitting successively lower bids until there is only oneseller left?
A)b2b marketplace
B)intranet
C)reverse auction
D)internet

Question

Quizplus · Accepted Answer

A reverse auction is a type of auction in which the roles of buyer and seller are reversed. In this process, a buyer posts a requirement for a specific quantity of goods or services, and sellers compete to offer the lowest price, thereby driving down the price.

What Is the Process in Which a Buyer Posts Its