What are the different types of auctions based on how the price of the item being auctioned is determined?
What will be an ideal response?
Auctions can be divided into two types based on how price is determined. In some cases, people pay what they actually bid. In others, the next highest bid determines the price.
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Under earnings-sharing regulation, if a firm's profits ________ above a certain level, they must be shared with the firm's ________
A) rise; customers B) fall; customers C) rise; suppliers D) fall; suppliers E) rise; competitors
Economists have long pondered the reasons why people hold money. Some reasons seem to be more important than others. Perhaps not among the most important but still a reason why people demand money is the precautionary motive. This precautionary demand for money refers to the demand
a. to satisfy everyday transactions b. for investment purposes c. for speculative purposes such as having money available to take advantage of stock purchases d. to protect against inflation e. to cover unexpected events