--%>
Assignment Help - homework help

What are the levels of Demand forecasting

What are the levels of Demand forecasting?

E

Expert

Verified

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.

   Related Questions in Managerial Economics

  • Q : Total wage payments by increase in wage

    Increasing the wage from $9 to $15 will cause Plastibristle’s total hourly wage payments to: (w) rise by about $900. (x) rise by about $1500. (y) fall by about $900. (z) fall by about $1500. <

    		•
  • Q : Consuming extra units of goods The

    The observations that whenever output is expanded, the costs ultimately grow faster than output, and that the enjoyment people receive from consuming additional units of a specific good ultimately declines, both pursue logically from the law of: (1) Unexpected effects

    		•
  • Q : What are the scopes of managerial

    What are the scopes of managerial economics?

    		•
  • Q : Illustrates the Importance of

    Illustrates the Importance of managerial economics?

    		•
  • Q : Concept of derived demand The concept

    The concept of derived demand means that: (w) consumer demands for goods depend on the utilities received from their use. (x) firms’ demands for resources depend upon consumer demands for the goods produced. (y) governmental demands for social g

    		•
  • Q : Moral Hazard and Efficiency Wages

    Firing a worker who regularly goods off and calls in sick may not resolve the moral hazard problem of shirking when: (w) there is a high probability which the worker will sue the firm. (x) the local unemployment rate is high. (y) average worker productivity is low. (z

    		•
  • Q : Illustrates the significance of

    Illustrates the significance of elasticity?

    		•
  • Q : Wage Rates and Marginal Resource Costs

    When a firm is a price taker into the labor market and the wage is $80 daily, the marginal resource cost incurred while hiring 20 more workers daily is: (w) $80. (x) $1600. (y) $800. (z) $400.

    Q : Why is wealth definition of economics

    Why is wealth definition of economics criticized?

    		•
  • Q : Illustrates the pricing policy and

    Illustrates the pricing policy and practices?

    		•