Is it possible to combine layers?

This is probably a stupid question, but I thought I would ask anyway. Is it possible to combine 2 layers into one? For example. Lets say that I created a shadow for text using two layers. Can I then combine those two layers so that it is only one. I know I can create a folder, but I was wondering if you could just make multiple layers into one after you have created your desired effect. Thanks in advance


Quick edit: Forgot to comment how much I love this site and appreciate everybody’s help. I learn a lot just perusing through all of the threads and taking the tutes!