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In what type of auction does a buyer initiate the process by submitting a description of the desired product or​ service?
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In what type of auction does a buyer initiate the process by submitting a description of the desired product or​ service?

User Anver Sadhat
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1 Answer

5 votes

Answer:

Dutch Auction

Step-by-step explanation:

The type of auction that is being described is called a Dutch Auction. Like mentioned in the question this is a type of auction in which the buyer initiates the process by submitting a description of the desired product or​ service, and when selling a high asking price is set and lowered until a participant accepts or the reserve price is met.

User Reign
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