Illustrates the types of Demand Forecasting
Illustrates the types of Demand Forecasting?
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Based upon planning requirements and the time span of business firms, demand forecasting can be categorized as given below:
Short term demand forecasting:
Short term Demand forecasting is restricted to short periods, generally for one year.
Long term demand forecasting:
It is meant for long period.
For a firm hiring through a purely competitive labor market, in that case the supply of labor is: (w) greater than the MRC. (x) less than the MRC. (y) the same as the MRC. (z) vertical to parallel the wage rate. Q : Illustrates the types of Demand Illustrates the types of Demand Forecasting?
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