Define Productive Efficiency.Does Productive Efficiency Imply Allocative Efficiency? Explain

question 228

Essay

Define productive efficiency.Does productive efficiency imply allocative efficiency? Explain.

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Definitions:

Positioning

The strategy of defining a brand or product's unique value in the market and in the minds of consumers.

Franchising

A business model wherein a business owner (franchisor) grants to an individual or entity (franchisee) the rights to operate a business under the franchisor's brand and system in exchange for a franchise fee and ongoing royalties.

Foreign Market

This refers to the markets outside the domestic boundaries where a company can sell its products or services, often requiring adaptation to local needs and regulations.

Franchisor

An entity or individual that grants another party the right to conduct business under their trademark or trade name in exchange for a franchisee fee and a percentage of franchise operation sales.