Online Auction

Online Auction is a market economic process that takes the Internet as the platform and competitive price as the core, establishes the communication and interaction mechanism between producers and consumers, and jointly determines the price and quantity to achieve equilibrium. The so-called online auction refers to the price negotiation and trading activities carried out on the Internet, that is, the use of the Internet to publicly publish the information of the goods or services to be tendered on the website, and sell it to the highest or lowest bidder through competitive bidding. Its essence is a market economic process that takes competitive price as the core, establishes the communication and interaction mechanism between producers and consumers, and jointly determines the price and quantity, so as to achieve equilibrium.