In economics, value is the capacity of a good or service to provide satisfaction to its purchaser; or, the resources employed in its production and hence its opportunity cost in terms of alternative outputs foregone. Micro-economic theory shows that in a well-functioning market system, the price of an item reflects the value of the last unit sold and bought. Value added by a firm is that part of the gross value of its output that has been created by the firm in question. In other words, it represents revenue minus the input costs of raw materials, bought-in services, and semi-finished items. More generally, economists have debated how value is created. Research Value
Vertical integration is an industrial structure involving unified ownership or control of two or more stages of production. Complete vertical integration means that a company controls a production process from start to finish: from the extraction of raw materials to the final retail sale. Vertical integration may be achieved through organicgrowth, or through merger or take-over. There may be significant economies of scale from vertical integration, but it may also lead to monopoly power. Well- known historical examples of vertically integrated firms were the major multinational oil companies such as BP, Exxon, and Shell, before the 'OPEC' revolution of 1973 to 1974 deprived them of control over major sources of crude oil. Research Vertical Integration
Voting shares are shares in a company that entitle their owner to vote at the annual general meeting and any extraordinary meetings of the company. Shares that carry voting rights are usually ordinary shares, rather than A shares or debentures. The company's articles of association will state which shares carry voting rights. Research Voting Shares
Abbreviations
Money
Research Value