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 150 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 If the reserve price is not exceeded, the item is withdrawn from the auction and not sold.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?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

For a complete list of videos, visit our video library