Bidding is an offer (often competitive) of setting a price one is willing to pay for something or a demand that something is done. A price offer is called a bid. The term may be used in a context of auctions, stock exchange, card games, or real estate. Bidding is used by various economic niche for determining the demand and hence the value of the article or property, in today's world of advanced technology, Internet is one of the most favourite platforms for providing bidding facilities, it is the most natural way of determining the price of a commodity in a free market economy.
Bindings are arranged by the first disclosinInternet the time frame for posting the bids may be a topic of interest.
Many similar terms that may use or may not use the similar concept have been evolved in the recent past in connection with bindings, such as the reverse auction, social bidding, or many other game class ideas that promote them self as bidding. Bidding is also sometimes used as ethical gambling in which the prize money is not determined solely by luck but also by the total demand that the prize has attracted towards itself.