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COMMONWEALTH: The Commonwealth is a multilateral organization of 54 developed and developing nations around the world. The Commonwealth Secretariat was established in 1965 as the main intergovernmental agency of the Commonwealth, facilitating consultation and co-operation among member governments and countries. The Commonwealth strives to be a force for peace, democracy, equality and good governance, a catalyst for global consensus building and a source of assistance for sustainable development and poverty eradication. The Commonwealth Secretariat is headed by the Commonwealth Secretary-General and is located at Marlborough House in London. Association to the Commonwealth is voluntary.

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Lesson 7: Market | Unit 2: The Numbers Page: 6 of 22

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This table combines the demand and supply schedules for 8-track tapes.

The price of tapes ranges from 10 cents to 90 cents. The quantity demanded ranges from 800 tapes to 0 tapes. The quantity supplied ranges form 0 tapes to 800 tapes.

  • Law of demand: As the price increases from 10 to 90 cents, the quantity demanded decreases from 800 tapes to 0 tapes.
  • Law of supply: As the price increases from 10 to 90 cents, the quantity supplied increases from 0 tapes to 800 tapes

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SATISFACTION

The process of successfully fulfilling wants and needs. This also goes by the technical economic term utility, and is essentially synonymous with more common words, such as fulfillment, well-being, and to some degree prosperity or happiness.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for defective microphones.
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More money is spent on gardening than on any other hobby.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

GLS
Generalized Least Squares
A PEDestrian's Guide
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