--%>

Illustrates the factors affecting Demand Forecasting

Illustrates the factors affecting Demand Forecasting?

E

Expert

Verified

The given are the significant factors governing demand forecasting as follows:

1. Prevailing Business circumstances (per capita income, price level change and consumption pattern, employment and saving, investments).

2. Condition in the Industry (as Price product competition policy of firms in the industry).

3. Condition in the firm. (Like Plant capacity, significant policies of the firm and quality).

4. Factors influencing Export trade (as EXIM control, terms of export, EXIM policy and export finance)

5. Market behaviour

6. Sociological circumstances (as Population details, family lifecycle, age group, family income, education and social awareness.)

7.  Psychological circumstances (habit, taste, attitude, culture, perception and religion)

8. Competitive circumstance (as competitive condition in the industry).

   Related Questions in Managerial Economics

  • Q : Explain the cost function in briefly

    Explain the cost function in briefly.

  • Q : Explain the business decision based

    Explain the business decision based upon income elasticity.

  • Q : Explain about perfectly price elastic

    I have a problem on perfectly price elastic supply curve that is given below: A perfectly price elastic supply curve is: (w) vertical. (x) horizontal. (y) positively sloped. (z) negatively sloped.

    Q : Definition of Managerial economics

    Describes the definition of Managerial economics according to Douglas?

  • Q : Illustrates the Modern Definition

    Illustrates the Modern Definition?

  • Q : Slope downwards demand curves for Labor

    Derived demand curves for labor slope downwards since: (w) additional workers are usually less skilled and thus deserve lower wages. (x) when another resource is fixed, hiring more workers ultimately reduces output per hour worked. (y) higher wages us

  • Q : Making a decision regarding resource

    To make a decision regarding resource hire, the firm should take as: (w) the price of the resource. (x) the productivity (Marginal Price) of the resource. (y) output prices. (z) All of the above. How can I solve my Economic

  • Q : Illustrates the plethora of definitions

    Illustrates the plethora of definitions regarding subject matter of economics?

  • Q : Capital and Wage Differentials Relative

    Relative to evenly strong, smart, and hard-working people along with less education, and the high school graduates who invest most heavily within more advanced formal education are probable to experience lower average: (w) wages when first entering th

  • Q : Huge parts of the enormous incomes

    Huge parts of the enormous incomes earned through some gifted athletes and performers are pure economic: (w) wages. (x) profits. (y) interest. (z) rents. Hello guys I want your advice. Please recom