In a(n) ________, a buyer communicates specifications for the product and the exact price he or she is willing to pay.
A) storefront price
B) online price
C) forward auction
D) reverse auction
E) clickthrough fee

Question

Quizplus · Accepted Answer

In a reverse auction, a buyer communicates their desired specifications for a product or service and the maximum price they are willing to pay. Potential suppliers then compete to offer the lowest price, with the lowest bidder typically winning the auction.

In A(n) ________, a Buyer Communicates Specifications for the Product