The table below describes the value added in the production of a gallon of gasoline by each stage of production.(The values are hypothetical.)
Table 19-3
a.What is the value added by each stage of production?
b.What is the total value added?
For simplicity,you can ignore the cost of the inputs for oil drilling.
Definitions:
Consumer Value
The perception of what a product or service is worth to a customer versus the possible alternatives.
Vertical Supply Chain
A vertical supply chain integrates multiple stages of production and distribution, managed by a single company, to control supply and costs.
Manufacturer
A company or individual that produces finished goods from raw materials in large quantities through various manufacturing processes.
Wholesaler
A person or company that sells goods in large quantities at low prices, typically to retailers or other businesses.
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