States the Demand Forecasting in terms of production
States the Demand Forecasting in terms of production?
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Accurate demand forecasting is necessary for a firm to enable this to produce the needed quantities at the right time and to arrange well within advance for the different factors of production. Forecasting assists the firm to assess the probable demand for its products and plan its production consequently.
When the income effect of a wage raise is more powerful than the substitution effect, in that case the: (i) labor supply curve will be “backward bending.” (ii) unemployment rate will rise since more people will be av
Explain the welfare definition of economics? Why is it criticized?
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Suppose that the auto market began at the intersection of S0 and D0 before people began to expect auto prices to rise in the close to future. How will it influence the auto market?: (1) No change. (2) Demand shifts to D2. (3) Demand sh
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