What is Demand Forecasting
What is Demand Forecasting?
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Demand Forecasting considers to an estimate of future demand for the product. This is an “objective assessment of the future course of demand”. This is necessary to distinguish in between forecast of sales and forecast of demand. Sales forecast is significant for estimating revenue, cash expenses and requirements. Demand forecast associates to production inventory control, reliability of forecast and timing.
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what is exceptional demand curve and its explanation?
Increasing the wage rate increases total wages received through workers when the demand for labor is: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) perfectly elastic.
States the Scarcity Definition in economics?
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