In which of the following auctions does the auctioneer first announce a high price for a product and then slowly decreases the price until a bidder accepts?
A. a Dutch auction with one buyer and many sellers
B. an English auction with one seller and many buyers
C. an ascending bid auction
D. a sealed-bid auction
E. a Dutch auction with one seller and many buyers
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In a(n) ________, the buyer announces something he or she wants to buy, and potential sellers compete to offer the lowest price.
A. Dutch auction with one buyer and many sellers
B. English auction with one buyer and many sellers
C. English auction with one seller and many buyers
D. sealed-bid auction
E. ascending auction
________ auctions let would-be suppliers submit only one bid; they cannot know the other bids.
A. Descending bid
B. Sealed-bid
C. English
Dutch
E. Reverse
In which of the following forms of countertrade do buyers and sellers directly exchange goods, with no money and no third party is involved?
A. buyback arrangements
B. offsets
C. barter
D. sealed bids
E. compensation deals
A Japanese firm is ready to sell its recent technological innovation to the US government. But it has asked for 80 percent in cash and the rest in mica. The Japanese firm is looking to enter into a(n) ________ with the US government.
A. functional discount
B. compensation deal
C. buyback arrangement
D. offset agreement
E. barter deal