Illustrates the factors affecting Demand Forecasting
Illustrates the factors affecting Demand Forecasting?
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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).
A cartel is more likely to succeed and survive when: (w) members respond to incentives to cheat. (x) fringe producers are not members. (y) total market demand is less elastic. (z) close substitute goods are simply developed. Q : Total supply of human capital in the Government policy is probably to help raise the total supply of human capital within the long run through: (w) increased public education and retraining programs. (x) minimum wage legislation. (y) laws prohibiting discrimination in employment. (z) str
Government policy is probably to help raise the total supply of human capital within the long run through: (w) increased public education and retraining programs. (x) minimum wage legislation. (y) laws prohibiting discrimination in employment. (z) str
Labor’s physical productivity based most directly on technology and the: (w) tastes and preferences of consumers. (x) transactions demand for money. (y) prices and availability of the other resources. (z) level of per capita income.
Economists suppose that firms hire labor to further a fundamental goal of maximizing: (1) economic profit. (2) workers’ welfare. (3) economy-wide employment. (4) managerial compensation. (5) the total value of output.
A personal supply of labor is exemplified by an income effect which dominates the substitution effect if: (w) Trina retires to a beach condo after working for the city for 42 years. (x) members of a rock band give up touring for a yea
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