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JUST IN TIME: A method of production in which inputs used in the production process are delivered to a firm or factory immediately before they are needed. Just in time limits the inventories of raw materials and intermediate goods kept on site. While this is credited with improving microeconomic production efficiency, it might also prevent macroeconomic business-cycle instability that is attributable to the unplanned build-up of business inventories.
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MERGER: The consolidation of two separately-owned businesses under single ownership. This can be accomplished through a mutual, "friendly" agreement by both parties, or through a "hostile takeover," in which one business gets ownership without cooperation from the other. Mergers fall into one of three classes -- (1) horizontal--two competing firms in the same industry that sell the same products, (2) vertical--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 (3) conglomerate--two firms that are in totally, completely separated industries. See also | oligopoly | market structure | collusion | horizontal merger | vertical merger | conglomerate merger | antitrust laws | cartel | monopoly | competition |
Recommended Citation:MERGER, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: October 9, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: merger
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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between the marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because a monopolistically competitive firm is a price maker and faces a negatively-sloped demand curve, its marginal revenue curve is also negatively sloped and lies below its average revenue (and demand) curve. A monopolistically competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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RATS
Regression Analysis of Time Series (software)
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