exam 3
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backward vertical integration
is moving activities closer to the originating point- to the inputs
Vertical Integration
is the firms ownership of its production of needed inputs or the channels by which is distributes its outputs
Forward vertical integration
is the moving ownership activities closer to the end point of the industry chain- to its customers
how can one measure the level of vertical integration of a firm?
vertical integration can be measured by the number of industry value chain in which the firm participates, and the percentage of the firms sales generated within the firms boundaries
