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VERTICAL INTEGRATION: The situation in which a firm participates in more than one successive stage of the production or distribution process. For example a soft drink company that also controls a sugar-producing firm is said to be vertically integrated because the soft drink company does not have to buy sugar from other firms to produce soft drinks. In some cases, two separate firms are vertically integrate because one firm produces a good or service and the other distributes it.
Visit the GLOSS*arama
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State of the ECONOMY
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Production/Income |
Real average weekly earnings |
November 2016 |
$367.50 Bureau of Labor Statistics |
Constant 1982-84 dollars |
Median weekly earnings |
Third Quarter 2016 |
$827 / week |
Up $24 from 3rd Qtr. 2015 |
GDP: Real |
Third Quarter 2016 |
$18,675.3 Billion (Annual Rate) Source: BEA |
Up 5.0% |
U.S. Exports |
November 2016 |
$185.8 billion |
Down 0.2% from Oct. 2016: Econ. Stat. Admin. |
e-commerce sales |
3rd Quarter 2016 |
$101.3 billion |
Up 4.0% from 2nd Quarter 2016 US Census Bureau |
Personal Income |
November 2016 |
$16,233.8 billion |
Up 0.1% from Oct. 2016 |
U.S. Imports |
November 2016 |
$231.1 billion |
Up 1.1% from Oct. 2016: Econ. & Stat. Admin. |
Private Employer Cost for Employee Compensation |
September 2016 |
$32.27 per hour |
Benefits are $10.73 / hour Source: BLS |
Sales of New Single-Family Homes |
November 2016 |
592,000 (seasonal adjusted annual rate) |
Up % from October 2016 Source: Econ Stats Adm. |
Productivity |
3rd Quarter 2016 |
Unchanged from a year ago |
Source: BLS |
Real Average Hourly Earnings |
November 2016 |
$10.68 |
Up $.07 from November 2015 |
Employment |
U 3 Unemployment |
December 2016 |
4.7% Up from November |
Bureau of Labor Statistics |
U.S. Job Openings |
October 2016 |
5.5 million Steady |
Bureau of Labor Statistics |
U 6 Unemployment |
November 2016 |
9.3% Down a little |
Includes those who have given up looking. BLS |
Prices |
Consumer Price Index W |
November 2016 |
235.215 |
Down slightly from Oct. 2016 Source: B L S |
Money/Interest |
U.S. National Debt |
January 3, 2017 |
$19,951,017,689,395.11 |
Up over $1 trillion in 2016: U.S. Debt Clock |
Federal Discount Rate |
January 3, 2017 |
1.25% |
Up 0.25% |
Prime Rate |
January 3, 2017 |
3.75% |
Up .25% from a year ago |
Federal Funds Rate |
January 3, 2017 |
.75% |
Up 0.25% from a year ago |
Cyclical Indicators |
Consumer Price Index Urban |
November 2016 |
241.353 |
Up 0.2% from Oct. 2016 Source: BLS |
New Orders for Manufactured Goods |
November 2016 |
$458.3 billion |
Down 2.4% from Nov. 2016 Econ & Statistics Adm |
New Orders for Manufactured Durable Goods |
November 2016 |
$228.2 billion U.S. Commerce Dept. |
Down 4.6% from Oct. 2016 |
Business Inventories |
October 2016 |
$1,814.5 billion |
Up 2% from Oct. 2015: Econ. Stat. Admin. |
Retail Sales |
November 2016 |
$468.05 billion |
U.S Census Bureau |
Producer Price Index Final Demand |
November 2016 |
110.8 |
Up 0.4% from Oct. 2016 Soure: BLS.gov |
Wholesale Inventories |
November 2016 |
$594.5 billion |
U.S. Dept. of Commerce |
Housing Starts |
November 2016 |
1,090,000 |
Down 18.7% from Oct. 2016: U.S. Census Bureau |
Construction Spending |
October 2016 |
$1,172.6.4 billion |
Up 0.5% from Sept. 2016 Source: Econ Stats Adm. |
Building Permits |
November 2016 |
1,201,000 |
Do 4.7% from October 2016: U.S. Census Bureau |
Other |
World Population |
January 3, 2017 |
7,362,851,059 |
Higher: U.S. Census Bureau |
U.S. Population |
January 3, 2017 |
324,321,654 |
Up again...U.S. Census Bureau |
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SELLERS' EXPECTATIONS, SUPPLY DETERMINANT The expectations that sellers have concerning the future price of a good, which is assumed constant when a supply curve is constructed. If sellers expect a higher price, then supply decreases. If sellers expect a lower price, then supply increases. Sellers' expectations are one of five supply determinants that shift the supply curve when they change. The other four are resource prices, production technology, other prices, and number of sellers.
Complete Entry | Visit the WEB*pedia |
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Shopping Around For RETAIL PRICES It's time for another one of our frequent stops at Mr. Market Super Food Discount Store, this time to check out the story behind retail prices. As consumers, we spend a large fraction of our nonworking, nonsleeping lives wandering grocery stores aisles, searching clothing store racks, and surveying department store displays for the right product at the right price. How do we know, like the name of the long-running game show, if "The Price is Right?" How are retail prices set and do they really tell us the value of a product?
Tell me more...
Visit the PEDestrian's Guide
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GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for letters from the Internal Revenue Service. Your Complete Scope
This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires...courage." -- Ralph Waldo Emerson
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ACRS Accelerated Cost Recovery System
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