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ECONOMIC COMMISSION FOR LATIN AMERICA: The Economic Commission for Latin America (ECLA) -the Spanish acronym is CEPAL- was established in 1948. ECLAC, which is headquartered in Santiago, Chile, is one of the five regional commissions of the United Nations. It was founded for the purposes of contributing to the economic development of Latin America, coordinating actions directed towards this end, and reinforcing economic relationships among the countries and with the other nations of the world. The promotion of the region's social development was later included among its primary objectives. The 33 countries of Latin America and the Caribbean are member States of ECLAC, together with several North American and European nations that have historical, economic and cultural ties with the region.
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EXCESS SUPPLY A disequilibrium condition in a competitive market in which the quantity supplied is greater than the quantity demanded. Excess supply is another way to say surplus. It also goes by the common term of buyers' market. Excess supply is one of two disequilibrium states of the market. The other is excess demand (or shortage).
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing." -- William A. Ward
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WLS
Weighted Least Squares
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