Factors affecting demand forecasting - price, Microeconomics

Assignment Help:

Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complements one may also consider the price differences between the product concerned and its substitutes and compliments.

Price as a determinant of the volume of sales of consumer non durable is sometimes more important through cross elasticity ( involving substitute products) than it is directly in terms of price elasticity. Direct price elasticity can expected to be more important with respect to those consumer non durables which are capable of storage and are freeform risks of changes in styles.


Related Discussions:- Factors affecting demand forecasting - price

Bonds, Contribution of bonds in n economy.

Contribution of bonds in n economy.

What is the difference between concept and assumption, What is the differen...

What is the difference between 'concept' and 'assumption'?  These two terms are very dissimilar. The term 'concept' refers to an idea or abstract principle. For instances, forc

Demand function, Demand Function The function capturing the dependent ...

Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product

What are the basic economic institutions, What are the basic economic insti...

What are the basic economic institutions? There are two fundamental economic institutions which have been so far used into the real world are as: a. Market economic institut

Analysis the project status - bridge project, The government has undertaken...

The government has undertaken a highway bridge project that was originally projected to cost $2 million and provide benefits of $2.5 million.  Unfortunately, the costs have been mu

What is affected variable and cause variable, What is affected variable and...

What is affected variable and cause variable?  In a graph, one variable is dependant and the other is independent. The dependant variable is known as effect variable and indepe

Time series, uses of time series in Indian Economy?

uses of time series in Indian Economy?

Cost theory, What are the economies and diseconomics of scale?

What are the economies and diseconomics of scale?

Economics, What happens when oil eventually runs out?? can''t we just pay ...

What happens when oil eventually runs out?? can''t we just pay doctors and nurses more money?? The unemployed should get off their backsides and get a job??

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd