Much clearer. There is no such feature in Word.
Generally, there is not a need for such a feature; it is handled nicely by
the margins. This assumes that you do not have lines with arbitrary end
points but rather let Word wrap your lines. With tables it sometimes causes
problems because, by their nature, tables have arbitrary end points.
I suspect that if we are talking ordinary text, your solution is to use
styles for your formatting and adjust the margins to suit your use.
Especially with the options for mirror margins with a gutter, Word is fairly
flexible. I routinely shrink and expand margins to better fit a document on
a page. You may want to look at
http://word.mvps.org/faqs/formatting/FitCopy.htm.
No, it is not Excel; Word is designed to handle different kinds of files.
For more on styles see
http://addbalance.com/usersguide/styles.htm.