Absolute Auction

Absolute Auction

Assessment

Interactive Video

Business

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key factor to consider when determining the best sales approach for a product?

The color of the product

The price of the product

The type of product

The location of the sale

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of auction is described as having no reserve or minimum price?

Silent auction

Absolute auction

Sealed-bid auction

Dutch auction

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In an absolute auction, what determines the winner?

The first bid

The highest bid

The lowest bid

The average bid

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common misconception about auctions?

They always have a reserve price

They are only for expensive items

They are only held online

They are only for art pieces

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the absence of a reserve price in an absolute auction affect the sale?

It guarantees a higher sale price

It ensures the item is not sold

It limits the number of bidders

It impacts the final deal made

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