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Compare factor-factor analysis with product-product analysis.

Answer

Factor-factor analysis examines choices among production factors, such as labor and capital combinations. Product-product analysis examines choices or relationships between different outputs. Both support production planning, but one focuses on input combinations and the other on output combinations.

Explanation

### The concept Production analysis can focus on different decision relationships. Factor-factor analysis asks how one factor may be combined or substituted with another, such as labor and capital. Product-product analysis considers relationships between outputs, such as deciding which products to produce. Factor-product analysis instead relates a factor to a product, while multifactor-multiproduct analysis considers several inputs and outputs together. ### What a good answer covers - Defines factor-factor analysis as an input-combination question. - Defines product-product analysis as an output-choice question. - Gives a relevant example of each. - Distinguishes both from factor-product analysis. ### Terms - **Factor**: An input used in production, such as labor or capital. ### Remember Factor-factor compares inputs; product-product compares outputs.

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