Examlex
Who was the first to notice a striking division between species on either side of the deep ocean trench between the islands of Bali and Lombok?
Vickrey Auction
An auction model where sealed bids are submitted, and although the item goes to the highest bidder, the price they pay is determined by the second-highest bid.
English Penny Black
The world's first adhesive postage stamp used in a public postal system, issued in Great Britain in 1840.
Self-Interest
The motivation of individuals that drives them to act in pursuit of their own desires and benefits, often considered a fundamental economic assumption.
Vickrey Auction
A type of sealed-bid auction where bidders submit their bids without knowing the others' bids, and the highest bidder wins but pays the price bid by the second-highest bidder.
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