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Business as a Black-Box
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We can analyse a business as a black box. With the inputs being raw material, parts, capital, labor and management and the outputs being the achievement of certain goals, mostly economical ones.
Companies create value over time.
Value Chain of a furniture factory
The process of turning those inputs into something more valueable is called the value chain.
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How do we measure added value?
In the most simple form it:
\displaystyle \text{Added value} = \text{Sales Revenue} - \text{Cost of supplies}
What is the VAT (Value Added Tax)
VAT is payed by the consumers when they buy a product. It is a indirect tax, because the money goes to the companies first, and they give it to the government.
Types of VAT's (as of 1/09/2012)
0% | Without VAT
- Hospitals, Training
4% | Super Reduced VAT
- Bread
- Eggs
- Milk
- Fruit
- Vegetables
- Textbooks
10% | Reduced VAT
- Pharmaceutical Products
- Restaurants
- Hotels
- Transportation
- Glasses
- Majority Food?
21% | General VAT
- Car
- Electricity
- Gas
- Telefone