Whois & Analysis for cbo.io

The practice of charity means the voluntary giving of help to those in need, as a humanitarian act.

Etymology.

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then buying the item to the highest bidder.

The open ascending price auction is arguably the most common form of auction in use today.

Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid.

An auctioneer may announce prices, bidders may call out their bids themselves (or have a proxy call out a bid on their behalf), or bids may be submitted electronically with the highest current bid publicly displayed.

In a Dutch auction, the auctioneer begins with a high asking price for some quantity of like items; the price is lowered until a participant is willing to accept the auctioneer's price for some quantity of the goods in the lot or until the seller's reserve price is met.

While auctions are most associated in the public imagination with the sale of antiques, paintings, rare collectibles and expensive wines, auctions are also used for commodities, livestock, radio spectrum and used cars.

In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form.

The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment.

Any item or verifiable record that fulfills these functions can be considered as money.

A tool is any physical item that can be used to achieve a goal, especially if the item is not consumed in the process.

Tool use by humans dates back millions of years, and other animals are also known to employ simple tools.

Causality (also referred to as causation, or cause and effect) is the agency or efficacy that connects one process (the cause) with another process or state (the effect), where the first is understood to be partly responsible for the second, and the second is dependent on the first.

In general, a process has many causes, which are said to be causal factors for it, and all lie in its past.

An effect can in turn be a cause of many other effects.

Although retrocausality is sometimes referred to in thought experiments and hypothetical analyses, causality is generally accepted to be temporally bound so that causes always precede their dependent effects (although in some contexts such as economics they may coincide in time; see Instrumental variable for how this is dealt with econometrically).