In which of the following forms of electronic commerce do suppliers attempt to offer the lowest price to buyers?
In which of the following forms of electronic commerce do suppliers attempt to offer the lowest price to buyers?
In a reverse auction, suppliers compete against one another by offering the lowest price to buyers. The buyer initiates the process by submitting a request for a product or service, and multiple suppliers provide bids with the lowest possible price to win the contract. This competitive bidding process ensures that suppliers attempt to offer the best price to secure the business of the buyer.
Assume that Reverse Auction should be the answer
Why not B?
In a reverse auction, suppliers compete against one another by offering the lowest price to buyers. In this process, the buyer submits a request for a product or service, and multiple suppliers submit their bids to provide the desired product or service at the lowest possible price. The buyer can then select the supplier offering the most attractive bid.