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The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, hire purchase facility is available. In western countries the extension of credit is used as sales promotion measure. Among the manufactures the Indian sewing machines company manufacturers of singer claim to have pioneered hire purchase in India ( Business India). Hawkins pressure cookers are also available on hire purchase basis. The intensified competition between car and two wheeler manufacturers has lead to many firms extending credit for their purchases.
Cross-Price Elasticity of Demand is explained below: Cross price elasticity of the demand is the percentage change in the quantity demanded of a particular good, with respect t
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Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these pro
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An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t
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