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ANDEAN COMMUNITY: The Andean Community (CAN) is a subregional organization endowed with an international legal status, which is made up of Bolivia, Colombia, Ecuador, Peru and Venezuela. The main objectives of the Andean Community are to promote the balanced and harmonious development of the member countries under equitable conditions, to boost their growth through integration and economic and social cooperation and to enhance participation in the regional integration process with a view to the progressive formation of a Latin American common market. The Andean Community started operating on August 1, 1997 with a General Secretariat, whose headquarters are in Lima (Peru), as its executive body.

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Lesson 12: Business Cycles | Unit 3: Measurement Page: 16 of 26

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  • The types of measurements used to indicate business cycle activity.
  • The use of leading economic indicators that reach turning points 3 to 12 months before business cycle turning points.
  • How coincident economic indicators track the actual business cycle turning points.
  • How lagging economic indicators, that reach turning points 3 to 12 months after official business cycle turning points, provide valuable information.

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PERFECT COMPETITION, SHUTDOWN

A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).

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APLS

BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?

The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"Give the American people a good cause, and there's nothing they can't lick. "

-- John Wayne, actor

ISIC
International Standard Industrial Classification
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