Productive efficiency and allocative efficiency are two concepts achieved in the long run in a perfectly competitive market. These are the two reasons why we call them perfect. How would you use these two concepts to analyze other market structures and label them imperfect?
Management Final Notes Layers of a Product: 1. Basic – What You Need (Inside) 2. Actual – Actual Item Type (Middle) 3. Augmented – Types that Target (Outside) Niche: 1. Identifiability – Who you are promoting to 2. Size – Target Groups 3. Accessibility – Personal Sell