Consumer Interview Survey method of Demand Forecasting
Explain the Consumer Interview Survey method of Demand Forecasting.
Expert
Consumer Interview method: In this method a list of potential buyers would be drawn and all buyers will be approached and asked regarding their buying plans. Such method is ideal and this gives firsthand information, but this is costly and complicated to conduct. It may be undertaken in three manners:
A) Complete Enumeration: Under this method, each consumer of the product is interviewed.
B) Sample survey: Under this method, a sample of consumers is chosen for interview. Sample may be Stratified sampling or random sampling.
C) End-use method: The demand for the product from various sectors like industries, consumers, import and export are determined.
Illustrates the techniques of economic forecasting in briefly?
Explain the Price Elasticity of Demand.
Economy-extensive efficiency needs both allocative and technical efficiency within production and: (w) equity within the distribution of national income. (x) biological efficiency, in that people's basic desires should be met. (y) pol
Define the term business forecasting briefly.
This supply of labor worker is roughly unitarily wage elastic as the wage rate increases from: (1) $5 per hour to $10 per hour. (2) $5 per hour to $25 per hour. (3) $10 per hour to $25 per hour. (4) $10 per hour to $40 per hour. (5) $25.01 per hour to
By the following choices in this illustrated graph, this worker would be happiest at point: (w) point a. (x) point b. (y) point c. (z) point d. Q : Explain the term relatively inelastic Explain the term relatively inelastic demand.
Explain the term relatively inelastic demand.
I have a problem in economics on Diminishing Returns and Increasing Costs. Please help me in the following question. The concave (or bowed out) production possibilities frontier means that the opportunity costs are: (i) Constant (ii) Increasing (iii)
Illustrates the pricing policies briefly?
When, for a specified output level, an absolute or perfectly competitive firm's price is less in that case its average variable cost, so the firm: w) is earning a profit. x) must shut down. y) must increase output. z) must increase price. Discover Q & A Leading Solution Library Avail More Than 1413886 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1951652 Asked 3,689 Active Tutors 1413886 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1951652 Asked
3,689
Active Tutors
1413886
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!