True or False: Bid pricing and auction pricing are different names for the same process for...

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True or False: Bid pricing and auction pricing are different names for the same process for...

True or False: Bid pricing and auction pricing are different names for the same process for setting price.

business economics

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Answer 1

Answer #1

Ans. False

Bid pricing is the willingness the buyer shows in buying the commodity for a price by offering a price or a bid to buy the same. On the other hand, auction is a process where buying and selling of goods is up for a bid.

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Answer 2

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