Here are Economics Terms beginning with V.

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Value added is the value added by a firm to the production process. It is equal to the price its sell per unit less its costs of inputs of production for that unit.

Value added tax is a percentage tax on goods and services which is levied at each stage of the production process.

Variable costs are the costs that vary as output changes. Examples include labour costs and the cost of raw materials.

Variable factors of production refer to factors of production that can be varied in the short run production pricess such as labor inputs and raw materials.

Velocity of circulation refers to the number of times on average that a unit of money is spent on goods and services over a period of one year.

Vent for surplus is a theory devised by Adam Smith which argues that  when small economy may produce more than it can consume it hence produces a surplus and may have unused capacity. International trade with another country can be used to vent off the surplus capacity  and maintain production in the economy back to full capacity.

Vertical equity involves the redistribution of icome and wealth from the better off to the worse off. For example progressive taxes can be used to pay benefits to lower income groups.

Vertical merger is when two companies at different stages of the production process in the same industry merge. For example, a steel producer takes over a mining company.

Vertical restraints are agreements which restrict competition between firms at different levels of the production and distribution process. for example a computer manufacturer might require retailers to sell its  computers at a certain minimum price.

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