5 terms were found starting with the letter v.

Value Added

The difference between the cost of materials purchased by a firm and the price for which it sells goods produced using those materials. This difference represents the value added by the productive activities of the firm.

Value-Added Tax (VAT)

A tax imposed on value added, that is, on the difference between the cost of materials purchased by a firm and the price for which it sells goods produced using those materials.

Variable Input

An input whose quantity is treated as variable – open to change by a firm – given the time horizon under consideration.

Variable Levy

A charge levied on imports that is adjusted frequently in response to changes in world prices. Imposed to defend administered domestic prices that are set above world market prices.

Vertical Organization/Vertical Integration

Combining operations in successive stages of production upstream (away from end consumers) and/or downstream (toward final consumers) – for example, a processing firm buys its supplier.