Distinguiush between MRS and MRTS

MRS		MRTS
1. The elaboration of MRS in marginal rate of substitution. 2. By MRS we mean at rate one product is substituted by another product. 3. The idea of MRS is derived from the indifference curve analysis.		1. The elaboration of MRTS is marginal rate of technical substitution. 2. By MRTS we mean at what rate one factor of production is substituted by an other factor of productions. 3. The idea of MRTS is derived from the ISO – QUANT curve analysis.