--%>

Describe the Long term Demand Forecasting

Describe the Long term Demand Forecasting.

E

Expert

Verified

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.

   Related Questions in Managerial Economics

  • Q : Perfectly supply of labor in

    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

  • Q : Wage Rates and Employment An increase

    An increase in the competitively-set wage tends to cause: (w) firms to reduce the amounts of labor hired. (x) increases in the marginal revenue products of the workers a firm retains. (y) higher marginal factor costs of labor to competitive firms. (z)

  • Q : What are the types of business cycle

    What are the types of business cycle?

  • Q : Define the term business forecasting

    Define the term business forecasting briefly.

  • Q : Hiring more labor in profit maximization

    When a firm hires an additional worker who adds $100 worth of output daily, and adds $50 daily to the firm’s costs, in that case the firm must: (w) hire more labor. (x) hire less labor. (y) not change its employment of labor. (z) sell off some o

  • Q : Definition of Managerial economics

    Describes the definition of Managerial economics according to Douglas?

  • Q : Elasticity of the supply possible

    When Chandra and Morgan are identically skilled and every can decide the number of hours she works as: (w) the elasticity of Morgan’s labor supply exceeds the elasticity of supply for Chandra’s labor at each possible quantity of labor. (x) Morgan’s i

  • Q : Costs of investing within human capital

    The costs of investing within human capital are probably to be borne by the employee when human capital a worker obtains “on the job” is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific.

    Q : Total wage payments by increase in wage

    Increasing the wage from $9 to $15 will cause Plastibristle’s total hourly wage payments to: (w) rise by about $900. (x) rise by about $1500. (y) fall by about $900. (z) fall by about $1500. <

  • Q : Determine the demand of auto-market

    Suppose that the auto market began at the intersection of S0 and D0 before people began to expect auto prices to rise in the close to future. How will it influence the auto market?: (1) No change. (2) Demand shifts to D2. (3) Demand sh