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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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4-FIRM CONCENTRATION RATIO: The proportion of total output in an industry that's produced by the four largest firms in the industry. This is one of two common concentration ratios. The other is the eight-firm concentration ratio. The four-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and how market control is held by the four largest firms in the industry.

     See also | concentration ratio | 8-firm concentration ratio | market share | market control | oligopoly | monopolistic competition |


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OLIGOPOLY

A market structure characterized by a small number of large firms that dominate the market, selling either identical or differentiated products, with significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition. Oligopoly dominates the modern economic landscape, accounting for about half of all output produced in the economy. Oligopolistic industries are as diverse as they are widespread, ranging from breakfast cereal to cars, from computers to aircraft, from television broadcasting to pharmaceuticals, from petroleum to detergent.

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APLS

BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at a flea market hoping to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for vindictive digital clocks with revenge on their minds.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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-- Benjamin Franklin

ACCR
Annual Cost of Capital Recovery
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