Answer:
1.What are Products and services - A Product is a tangible item that is put on the market for acquisition, attention, or consumption, while a Service is an intangible item, which arises from the output of one or more individuals.
2.How to products - descriptive study of economy.
• point of view
• benefits
• expenditures
normative study of economy.
• optimizing a new product
• optimizing a production
• optimizing pricing
3.For whom to produce - Advertisements : in nutshell, an economy has to allocate it's resources and choose from different potential bundles of goods.
4.Availability to produce - is the actual time that the machine or system is capable of production as a percent of total planned production time. Availability rate should not be confused with overall availability.
Explanation:
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