Problem:
In the three-step valuation process, it is suggested that we do economic analysis first, followed by industry and company analysis. In the country or economic analysis, we are supposed to forecast the future economic outlook in the long and short terms expectations.
Required:
Question 1: What are the long-term expectations that need considerations and why are they important?
Question 2: What are the short-term expectations that need considerations and why are they important?
Note: Please show guided help with steps and answer.