This topic contains a solution. Click here to go to the answer

Author Question: In two or three paragraphs, define the term reserve price and explain how the use of a reserve price ... (Read 145 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
In two or three paragraphs, define the term reserve price and explain how the use of a reserve price can affect the progress and outcome of an auction.

Question 2

In about 100 words, describe two or three specific apps that could use a smartphones GPS capability. Be sure to make clear the benefit of using the GPS in the app in each case.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

princessflame2016

  • Sr. Member
  • ****
  • Posts: 298
Answer to Question 1

A minimum bid is the price at which an auction begins. If no bidders are willing to pay that price, the item is removed from the auction and not sold. In some auctions, a minimum bid is not announced, but sellers can establish a minimum acceptable price, called a reserve price, or simply reserve. If the reserve price is not exceeded, the item is withdrawn from the auction and not sold.

Answer to Question 2

GPS-based apps can be used in precision farming to provide field mapping, soil sampling, and tractor guidance. GPS can also be used in apps that provide an audit trail for financial transactions.





 

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

For a complete list of videos, visit our video library