Question

Online auctions typically: A. may result in significant upfront preparation and cost B. communicate that the buyer wants a long term relationship C. reduce the time invested in upfront preparation and planning D. Pay for themselves from the savings generate by the first auction run

Answer 1

The correct answer is letter "A": may result in significant upfront preparation and cost.

Step-by-step explanation:

Online auctions are web-based offerings of goods and services just like physical auctions. Online auctions are sometimes called reverse auctions because typically the bid of a seller tends to be reduced after the auction starts, instead of increasing. A disadvantage for online auction organizers is that this requires investing more time up-front achieving tight Request for Quotes or RFQs than in traditional physical auctions.