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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 21: Factor Demand | Unit 4: Determinants
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Page: 20 of 24
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- Some factors of production work in a substitute arrangement for production and others have a complement relation.
- A few examples:
- Price changes substitute and complement factors affect factor demand in opposite ways:
- Increase In Substitute Price: An increase in the price of a substitute factor causes an increase in factor demand and a rightward shift of the factor demand curve.
- Increase In Complement Price: An increase in the price of a complement factor causes a decrease in factor demand and a leftward shift of the factor demand curve.
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PER UNIT TAX A tax specified as a percentage of the quantity of a good, service, asset, or other activity. Per unit taxes are often imposed on specific goods or markets. A common per unit tax is that levied on gasoline. People pay a given tax for each gallon of gasoline purchased, regardless of the price of gasoline. An alternative is an ad valorem tax, with is a tax specified as a percentage of the value or price of a good.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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CCAPM
Consumption-Based Capital Asset Pricing Model
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