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VERTICAL INTEGRATION: The situation in which a firm participates in more than one successive stage of the production or distribution process. For example a soft drink company that also controls a sugar-producing firm is said to be vertically integrated because the soft drink company does not have to buy sugar from other firms to produce soft drinks. In some cases, two separate firms are vertically integrate because one firm produces a good or service and the other distributes it.
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STABLE EQUILIBRIUM Equilibrium that is restored if disrupted by an external force. Most economic models have equilibrium that is stable, reflecting the observation that the real world adapts to changes and maintains a fair degree of stability. The alternative to a stable equilibrium is an unstable equilibrium.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for mail order catalogs with hidden messages.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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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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PDV
Present Discounted Value
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