Define naive method and its techniques briefly
Define naive method and its techniques briefly.
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Naive Method:
It is one of the oldest and crudest ways of forecasting business situation. It is not based upon any scientific approach. There projection is made purely through guesswork and sometimes through mechanical interpretation of historical data. Such method consists of such techniques like tossing the coin, simple correlation and even several other simple mathematical techniques.
Illustrates the techniques of economic forecasting in briefly?
Explain the concept of revenue.
In what condition the concept of marginal costing basically applied?
Categories the cost concept of business operation and decision making?
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 : Substitution Effect within Supply of When wage rates rise above $25 per hour in this figure given below, in that case the: (1) worker works more diligently to ensure that she keeps her job. (2) employer pays an excessively high efficiency wage. (3) income effect exceeds the substitution
When wage rates rise above $25 per hour in this figure given below, in that case the: (1) worker works more diligently to ensure that she keeps her job. (2) employer pays an excessively high efficiency wage. (3) income effect exceeds the substitution
Define the Revenue Concept in brief.
States the Demand Forecasting in terms of production?
Describe the Long term Demand Forecasting.
What is Diminishing Returns to Scale?
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