The product is not necessarily produced and consumed in the same place. The place of production or the plant site can be different from the place of distribution or selling. The service is produced and consumed in the same place. It cannot be owned and taken away from the location. LET US APPLY WHAT YOU HAVE LEARNED Three different kinds of stores are presented below. Identify what you believe makes each one different from the other, In Terms of Size In Terms of Items In Terms of Prices Store Supermarkets Groceries "Sari-sari" stores

The product is not necessarily produced and consumed in the same place. The place of production or the plant site can be different from the place of distribution or selling. The service is produced and consumed in the same place. It cannot be owned and taken away from the location. LET US APPLY WHAT YOU HAVE LEARNED Three different kinds of stores are presented below. Identify what you believe makes each one different from the other, In Terms of Size In Terms of Items In Terms of Prices Store Supermarkets Groceries "Sari-sari" stores

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).

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The product is not necessarily produced and consumed in the same place. The place of
production or the plant site can be different from the place of distribution or selling. The service
is produced and consumed in the same place. It cannot be owned and taken away from the location.
LET US APPLY WHAT YOU HAVE LEARNED
Three different kinds of stores are presented below, Identify what you believe makes each
one different from the other,
In Terms of Size
In Terms of Items
In Terms of Prices
Store
Supermarkets
Groceries
"Sari-sari" stores

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