V

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value creation
Performing activities that increase the value of goods or services to consumers.

values
Abstract ideas about what a society believes to be good, right, and desirable.

vehicle currency
A currency that plays a central role in the foreign exchange market (e.g., the US dollar and Japanese yen).

vertical differentiation
The centralization and decentralization of decision-making responsibilities.

vertical foreign direct investment
Foreign direct investment in an industry abroad that provides input into a firm's domestic operations, or foreign direct investment into an industry abroad that sells the outputs of a firm's domestic operations.

vertical integration
Extension of a firm's activities into adjacent stages of productions (i.e., those providing the firm's inputs or those that purchase the firm's outputs).

voluntary export restraint (VER)
A quota on trade imposed from the exporting country's side, instead of the importer's; usually imposed at the request of the importing country's government.

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