General Electric lists the specifications for a kind of wire needed in the

General Electric lists the specifications for a kind of wire needed in the manufacture of light bulbs on its Trading Process Network (TPN) site. GE asks potential suppliers to submit the price at which they would be willing to supply the wire. This is an example of a(n):
a) forward auction.
b) reverse auction.
c) private auction.
d) independent auction.
e) none of the above

Solution