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Question
Select the most appropriate word for the given description:
A public sale in which articles are sold to highest bidders.
Select the most appropriate word for the given description:
A public sale in which articles are sold to highest bidders.
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Solution
The correct option is D Auction
'Sale' refers to the exchange of a commodity for money. It refers to the action of selling something. A sale may happen inside an outlet. It may happen one-to-one or it could be a public sale. The word, 'sale' by itself does not mean the same as the description given. Hence, option A is incorrect. 'Auction' refers to a public sale in which goods or property are sold to the highest bidder. Hence, option B is correct.
'Wholesale' refers to the business of selling of goods in large quantities and at low prices, typically to be sold on by retailers at a profit. 'Marketing' refers to the action of promoting and selling products or services, including market research and advertising. Given the above meanings, options C and D are incorrect.
'Sale' refers to the exchange of a commodity for money. It refers to the action of selling something. A sale may happen inside an outlet. It may happen one-to-one or it could be a public sale. The word, 'sale' by itself does not mean the same as the description given. Hence, option A is incorrect.
'Auction' refers to a public sale in which goods or property are sold to the highest bidder. Hence, option B is correct.
'Wholesale' refers to the business of selling of goods in large quantities and at low prices, typically to be sold on by retailers at a profit. 'Marketing' refers to the action of promoting and selling products or services, including market research and advertising. Given the above meanings, options C and D are incorrect.
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