SOC SCI

Is a situation in which separate markets for the same product become one single market.

Also known as lateral integration. The merger of two or more companies that occupy similar levels in the production supply chain.

Is a competitive strategy by which a company takes complete control over one or more stages in the production or distribution of a product.

Types of Vertical Integration that Business activities are expanded to include control of the direct distribution or supply of a company's products

Type of Vertical Integration that process in which a company purchases or internally produces segments of its supply chain

A conglomerate is the combination of two or more business entities engaged in entirely different businesses that fall under one corporate group, usually involving a parent company and many subsidiaries

When humans first started to cultivate land and sow crops in 10,000 BC, there was the first agricultural revolution. It would take around 12,000 years for agriculture to advance to the next stage.

During 20th century, there was a rapid standardization and industrialization period sometimes known as the Technological Revolution. New technological systems were introduced around the same time. Electricity and telephones are the two most important things.

refers to the global economic paradigm that has been in place since the late 1990s and is characterized by exceptional technological innovation advancements as well as the quick global adoption of new digital information and communication technologies. The Computer Revolution, the Internet Revolution, and the Digital Revolution are the three main threads that make up the _________

is a business unit with headquarters in many other countries with a decentralized decision-making system. The global business participation system is used because it has faded and the market boundaries between one country and other countries have disappeared (globalization).