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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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what are the criticisms of it
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Problem : (a) Describe inflation and discuss its origin using Classical and Keynesian theories. (b) Describe with diagram how can inflation occur in an economy with substant
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Features of this system The mixed economy includes elements of both market and planned economies. The government operates and controls the public sector, which typically cons
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