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The merger of companies at the same stage of production in the same or different industries. When the products of both companies are similar, it is a merger of competitors. When all producers of a good or service in a market merge, it is the creation of a monopoly. If only a few competitors remain, it is termed an oligopoly. Also called lateral integration. See also vertical integration.
Budget deficit is a status when expenditures exceeds revenue.
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The amount by which a company or individual's spending exceeds it income over a particular period of time is called budget deficit. The budget deficit is normally financed through borrowing from the financial market.
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