Question

1. Explain the difference in between snack machines and newspaper vending machines (in case you are not familiar with newspaper vending machines you put money in the slot, the door opens and all of the newspapers are available) based on the ideas and concepts used in this module.

1. All-U Can Eat Buffet restaurants would not succeed if what economic concept covered in this module was not true? Explain.

Answer 1

Answer . 1
Difference Between Snack machine and Newspaper vending machine:

- The more important difference between snack machine and newspaper vending machine is that use or the utility of both product make them differ in most prominent way, its simple to use the newspaper vending machine you put a coin and get the newspaper from many copies of the same newspaper with simple mechanism of that machine, the door opens and you get to take one copies from many copies of newspaper from that open door while in snack machine when you put a coin or note you will only recieve one unit of snack and basically you cannot have multiple unit like newpaper machine as you what you will do of multiple copies of same edition newspaper while anyone can wish to have multuple snacks, more than one copies of newspaper is of no use for person while more than one snack cannit satisfy need of user.

- Snack machine is getting modern everyday, in latest machine you get option to choose payment mode by electronic way or traditional cash or coin use while in newspaper there is no need of upgrade they are still same as old time since people use it, in old way insert coin and grab one copies from open door.

- Snack machine cost more than newspaper vending machine since the mechanism need for snack machine is hard and have very much tight security as per its use while newspaper vending machine will cost less since there is typicall similar use over the year.