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HORIZONTAL MERGER: The consolidation under a single ownership of two separately-owned businesses in the same industry. An example of a horizontal merger would be two soft drink companies merging to form a single firm. A horizontal merger should be contrasted with vertical merger--two firms in different stages of the production of one good, such that the output of one business is the input of the other; and conglomerate merger--two firms in totally, completely separate industries.
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SEVENTH RULE OF COMPLEXITY The seventh of seven basic rules of the economy, stating that every action in the complex world has direct and often intended consequences combined with indirect and probably unintended effects.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for crowded shopping malls.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Man is born to live, not to prepare for life. " -- Boris Pasternak, writer
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JEL
Journal of Economic Literature
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