--%>
Assignment Help - homework help

Advantages and disadvantages of Survey Techniques

What are the advantages and disadvantages of survey techniques?

E

Expert

Verified

Advantages:

1. This technique is simple and less expensive.
2. These techniques give substantial amount of qualitative information which may be helpful in business and economic forecasting
3. These methods are usually used to supplement other quantitative forecasting techniques.

Disadvantages:

1. While the opinions differ this will create problem
2. Not helpful for long term forecasts

   Related Questions in Managerial Economics

  • Q : Substantial amounts of

    A currently-laid-off worker is probably to find another job quickly when the worker has substantial amounts of: (i) unemployment compensation and a strong union. (ii) specific human capital gained at the previous job. (iii) screening,

    		•
  • Q : Bend backward labor supplies Labor

    Labor supply curves “bend backward” within response to overwhelmingly powerful: (i) marginal effort effects. (ii) income effects. (iii) wealth effects. (iv) derived supply effects. (v) substitution effects.

    Q : Labor demand increases and supply

    Wages tend to increase while labor demand: (w) and supply both decrease. (x) decreases and supply increases. (y) and supply both raise. (z) increases and supply decreases. Please choose the right answer from above.

    		•
  • Q : State the laws of production State the

    State the laws of production.

    		•
  • Q : Substitution Consequence on Labor Supply

    The substitution consequence on labor supply decision of an individual is more powerful than the income effect while: (1) higher wage rates result within increased hours worked. (2) cuts in wage rates yield discouraged worker effects. (3) the supply c

    		•
  • Q : Dependency of labor supplies Labor

    Labor supplies depend on wage rates and also: (w) labor force participation and capital availability. (x) worker skills and preferences regarding employment. (y) technology and the price of output. (z) labor force participation and derived demand.

    		•
  • Q : Area of decision making in Managerial /

    Illustrates the area of decision making in Managerial / Business Economics?

    		•
  • Q : Diminishing Returns in Marginal Revenue

    When a firm is experiencing diminishing returns as: (w) the marginal product of labor rises as more labor is hired. (x) the marginal revenue product of labor falls as more is hired. (y) the marginal resource cost of labor will be declining. (z) this w

    		•
  • Q : Formulate the Cross Elasticity of demand

    Formulate the Cross Elasticity of demand?

    		•
  • Q : Advantages and disadvantages of Trend

    What are the advantages and disadvantages of trend projection method?

    		•