Vertical integrationIn microeconomics, management and international political economy, vertical integration is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It contrasts with horizontal integration, wherein a company produces several items that are related to one another.
Value-based pricingValue-based price (also value optimized pricing and charging what the market will bear) is a market-driven pricing strategy which sets the price of a good or service according to its perceived or estimated value. The value that a consumer gives to a good or service, can then be defined as their willingness to pay for it (in monetary terms) or the amount of time and resources they would be willing to give up for it. For example, a painting may be priced at a higher cost than the price of a canvas and paints.
Money supplyIn macroeconomics, the money supply (or money stock) refers to the total volume of currency held by the public at a particular point in time. There are several ways to define "money", but standard measures usually include currency in circulation (i.e. physical cash) and demand deposits (depositors' easily accessed assets on the books of financial institutions). The central bank of a country may use a definition of what constitutes legal tender for its purposes.
Neoclassical economicsNeoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as driven by the supply and demand model. According to this line of thought, the value of a good or service is determined through a hypothetical maximization of utility by income-constrained individuals and of profits by firms facing production costs and employing available information and factors of production.
Veblen goodA Veblen good is a type of luxury good for which the demand increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve. The higher prices of Veblen goods may make them desirable as a status symbol in the practices of conspicuous consumption and conspicuous leisure. A product may be a Veblen good because it is a positional good, something few others can own. Veblen goods are named after American economist Thorstein Veblen, who first identified conspicuous consumption as a mode of status-seeking (i.
Soviet-type economic planningSoviet-type economic planning (STP) is the specific model of centralized planning employed by Marxist–Leninist socialist states modeled on the economy of the Soviet Union (USSR). The post-perestroika analysis of the system of the Soviet economic planning describes it as the administrative-command system due to the de facto priority of highly centralized management over planning.
CollusionCollusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right. Collusion is not always considered illegal. It can be used to attain objectives forbidden by law; for example, by defrauding or gaining an unfair market advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities.
Homebuilt aircraftHomebuilt aircraft, also known as amateur-built aircraft or kit planes, are constructed by persons for whom this is not a professional activity. These aircraft may be constructed from "scratch", from plans, or from assembly kits. In the United States, Brazil, Australia, New Zealand and South Africa, homebuilt aircraft may be licensed Experimental under FAA or similar local regulations. With some limitations, the builder(s) of the aircraft must have done it for their own education and recreation rather than for profit.
Attack aircraftAn attack aircraft, strike aircraft, or attack bomber is a tactical military aircraft that has a primary role of carrying out airstrikes with greater precision than bombers, and is prepared to encounter strong low-level air defenses while pressing the attack. This class of aircraft is designed mostly for close air support and naval air-to-surface missions, overlapping the tactical bomber mission. Designs dedicated to non-naval roles are often known as ground-attack aircraft.
