A Consumer Buys a Product Directly from the Producer

question 88

Short Answer

A consumer buys a product directly from the producer.This represents a(n) _____ channel of distribution.

---

Definitions:

Average Costs

The cost per unit of output, calculated by dividing the total cost of production by the number of units produced.

Constant-Cost Industry

An industry in which the cost per unit does not change as the industry's overall output changes.

Diseconomies of Scale

The condition in which a company or production process becomes less efficient as it grows larger, leading to increased costs per unit.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and firms make no economic profit or loss.