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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 subm…

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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?

AB2B marketplace
BIntranet
CReverse auction
DInternet

Correct answer: C

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CCommunity26 Jun 2021

Reverse auction

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.