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Define the term forecasting
As the term 'forecasting' may appear technical, planning for future is a critical aspect of managing any business or anorganisation. The long-term success of any organisation has close association with the propensity of the management of the organisation to foresee its future and develop appropriate strategies to deal with likely future scenarios. Intuition, knowledge and good judgment of economic conditions allows the manager to 'feel' or maybe anticipate the likelihood in the future. It's not easy, though, to metamorphose a feeling about the future outcome into concrete data for example, as a projection for subsequent year's sales volume. Forecasting methods can help predict several future aspects of a business operation like forthcoming years' sales volume projections.
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#Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.question..
Indian industry has progressed a lot because of globalization. A lot of development has been seen in Indian industry.
elasticity concepts occupies a central place in policy formulation explain in details
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real GDP is increasingly criticized for its alleged failure to adequately measure the standard of living. To what extent do you think this criticism is valid?
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