Question

In what type of auction does a buyer initiate the process by submitting a description of the desired product or​ service?

Answer 1

Dutch Auction

Step-by-step explanation:

The type of auction that is being described is called a Dutch Auction. Like mentioned in the question this is a type of auction in which the buyer initiates the process by submitting a description of the desired product or​ service, and when selling a high asking price is set and lowered until a participant accepts or the reserve price is met.