Define naive method and its techniques briefly
Define naive method and its techniques briefly.
Expert
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.
When the real wage raises, in that case an additional unit of: (w) labor supplied will buy fewer goods. (x) leisure is more expensive. (y) output need more labor time. (z) capital becomes more highly utilized. Can
The economic incidence of a tax: (i) identical to its legal incidence. (ii) either forward-shifted to suppliers or backward-shifted to consumers. (iii) imposed on whoever suffers decreased purchasing power because of the tax. (iv) more easily found th
Describe the Long term Demand Forecasting.
Describe briefly Cost Volume-Profit relationship?
The expected losses to workers through shirking are increased while a firm adopts a policy of: (w) dividing productive tasks thus the division of labor is optimal. (x) paying efficiency wages which exceed market-clearing wages. (y) avoiding legal liability by not writ
Explain the Cross elasticity of demand.
Illustrates the term economic cost concept briefly?
Define the term cost plus pricing.
Explain the chief characteristics of managerial or business economics.
Explain about econometric models.
18,76,764
1933783 Asked
3,689
Active Tutors
1425823
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!