What are the levels of Demand forecasting
What are the levels of Demand forecasting?
Expert
Demand forecasting has three different levels as follows: 1. Macro level: This demand forecasting is related to the business circumstances prevailing in the economy as an entire. 2. Industry Level: This is prepared by various trade associations in order to estimate the demand for exact industries products. Industry consists of number of firms. This is useful for inter- industry comparison.
3. Firm level: This is more significant from managerial view point as this helps the management in decision making regarding the firms production and demand.
Define the term unitary elastic.
What are the Environmental or external issues of managerial economics?
Illustrates the term Law of Demand? Answer: The law of Demand is termed as the “first law in market”. It shows the relation in between quantity and price
Explain the meaning of total, average, marginal and incremental revenue.
What is Oligopoly? Explain in brief.
Illustrates the Demand function of a commodity?
Explain the cost concepts briefly.
Illustrates the fixed and variable inputs in economics?
States the Extrapolation statistical Method of Demand Forecasting?
Explain the target pricing briefly.
18,76,764
1922304 Asked
3,689
Active Tutors
1440795
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!