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This Concept Map, created with IHMC CmapTools, has information related to: Auction, Auction has Types, Reverse Auctions is one buyer wants to buy a product or a service. (One Buyer, Many Potential Sellers), Types are Forward Auctions, Reverse Auctions invites sellers to submit bids(prices), Types are Reverse Auctions, Forward Auctions is a seller entertains bids from many potential buyers, Auction find more information in the linked file, Auction named also bidding or tendering system