Describe the Long term Demand Forecasting
Describe the Long term Demand Forecasting.
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It forecasting is meant for long period. The significant purpose of long term forecasting is specified below:
1. Planning of expansion of existing or a new unit on the basis of analysis of long term potential of the product demand.
2. Planning long term financial requirements on the basis of long term sales forecasting.
3. Planning of manpower requirements can be made upon the origin of long term sales forecast.
4. To forecast future problems of energy crisis and material supply.
When family incomes within the United States raised sharply and therefore, sales of cashmere sweaters improved enormously, in that case cashmere sweaters are: (1) luxury goods. (2) preferred to wool or cotton sweaters. (3) inferior goods. (4) prestige goods. (5) norma
What is Increasing Returns to scale?
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A firm along with extreme managerial slack (i.e., X-inefficiency) can best survive when, it: (1) maximizes its economic profits. (2) spends large amounts on marketing and advertising. (3) has important market power and faces little potential competiti
The supply of labor within a perfectly competitive market is: (w) an upward sloping curve. (x) a horizontal line. (y) above the MRC. (z) below the MRC. Can someone explain/help me with best solutio
what are the criteria for good forecasting
The income effect of a small change within the wage rate for that worker most strongly exceeds the substitution effect at a wage rate of: (1) $5 per hour. (2) $10 per hour. (3) $10 per hour to $25 per hour. (4) $25 pe
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Profit maximizing competitive firms will competitively hire supplied labor up to that point where VMP is: (w) is at its maximum. (x) equals the wage rate. (y) minus MRP is minimized. (z) minus W is at its maximum.
A change in a derived demand is best demonstrated while there are increases in: (1) sales of roasted peanuts during baseball season. (2) new car sales during economic downturns. (3) orders for new capital throughout economic booms. (4) beef prices when cowboys unioniz
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