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Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material requisites, space and building requirements as well as availability of labour and capital. Manufacturing schedules can be drafted in compliance with the demand requisites; in this manner cutting down on the inventory, production and other related costs.
Evaluation: Demand forecasting also smoothes the process of evaluating efficiency of the sales department.
FACTORS AFFECTING THE ABILITY OF TRADE UNIONS TO GAIN LARGER WAGE INCREASES FOR ITS MEMBERS The basic factor is elasticity of demand for the type of labour concerned. The ela
What is decreasing marginal cost? All additional lawn mowed generates less benefit than the earlier lawn à along with decreasing marginal benefit; every additional unit generat
Q. Define the Natural Monopoly? Natural Monopoly: Natural monopoly is because of natural factors. For illustration, a particular raw material is concentrated at a specific pl
It can be geometrically proved that two elasticity are equal, which is., QB=RD Let's first consider ΔAOB. If we draw a horizontal line from point Q to intersect the vertical axis a
How can a firm''s security policies contribute and relate to the six main business objectives.give example
Fixed Costs (FC) These are costs which do not vary with the level of production i.e. they are fixed at all levels of production. They are associated with fixed factors of p
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?
A company is selling a particular brand of tea and wishes to introduce a new flavor. How will the company forecast demand for it.
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
what is objective
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