Q221
Which is a type of auction?
A.
Open descending
AnswerB.
Open close
C.
Sealed price
D.
Sealed ascending
Answer: Option A
Solution
Answer: Option A
Solution:
Open descending is a type of auction. An auction market is a market in which buyers indicate the highest price they are willing to pay and sellers indicate the lowest price they are willing to accept. A trade occurs when the buyer and seller agree on a price.