In auctions, price will go upward. A. Backward B. Forward c. Upward D Reverse

Question

Question

business Operations-Management

Answer 1

Answer #1

Answer : The given options are evaluated as follows :

Backward - There is no concept like backward auction and hence, this option is rejected .
Forward- Under this , a seller sells his or her item to the highest bidder and hence, there is a tendency of price going upward. So, this option is the correct answer .
Upward- A method to conduct forward auctions and hence, not the correct answer .
Reverse - Under reverse auction(one buyer and many sellers),the price decreases with the bids and hence, this option is rejected.

Conclusion : Option “B“ represents the correct answer .

Answer 2

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