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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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Lesson 11: Elasticity Basics | Unit 4: A Continuum Page: 16 of 25

Topic: Elasticity Alternatives <=PAGE BACK | PAGE NEXT=>

  • The two general categories of elasticity are elastic and inelastic.

  • While elasticity can be lumped into these two broad categories, it is best viewed as a continuum.

  • This elasticity continuum is divided into five alternatives:

  • Perfectly Elastic.
  • Relatively Elastic.
  • Unit Elastic.
  • Relatively Inelastic.
  • Perfectly Inelastic.


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PAYMENT FLOW

In the circular flow, the transfer of money in payment in exchange for the counter-clockwise physical flow of goods and services. The payment flow is the monetary payment for goods and services received by the household sector from the business sector through product markets and the monetary payment for resource services obtained by the business sector from the household sector through resource markets. The payment flow is usually illustrated as a clockwise flow for a model with the product markets at the top, resource markets at the bottom, household sector at the left, and business sector at the left. The physical flow moves in the opposite direction.

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Today, you are likely to spend a great deal of time at an auction wanting to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for telephone calls from former employers.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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