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VERTICAL MERGER: The consolidation under a single ownership of two separately-owned businesses that have an input-output relationship, in which the output of one firm is the input of another. An example of a vertical merger would be a soft drink company merging with a sugar company to form a single firm. A vertical merger should be contrasted with horizontal merger--two competing firms in the same industry that sell the same products; and conglomerate merger--two firms in totally, completely separate industries.
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Lesson 10: Gross Domestic Product | Unit 2: Looking Behind GDP
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Page: 11 of 25
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Economic production that involves market transactions is the foundation of GDP. This is area E. It is combined with area B to measure GDP. A summary of measuring GDP: - Start with all market transactions of record.
- Toss out past and future production in Slice A.
- Add the estimated value of nonmarket 'in-kind' production in Slice B.
- Don't include the value of nonmarket production in chunk C and the value of illegal production in chunk D.
- Combine areas B and E for the final tabulation of GDP.
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MARGINAL UTILITY OF INCOME The change in utility resulting from a given change in income. This is a specialized case of the general notion of marginal utility, which is simply the change in utility resulting from a given change in the consumption of a good. Marginal utility of income is key to identifying alternative risk preferences, including risk aversion, risk neutrality, and risk loving. These three risk preferences are indicated by three marginal utility of income possibilities, decreasing (risk aversion), increasing (risk loving), and constant (risk neutrality).
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for attractive cable television service repair people.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"We must be willing to let go of the life we have planned, so as to have the life that is waiting for us. " -- E. M. Forster, writer
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PV
Present Value
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