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Methods of Forecasting
The various methods of forecasting demand may be grouped under the followings categories:
Opinion Polling Method: In this method the opinion of the buyers sales forces and expert could be gathered to determine the emerging trend in the market.
Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
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Q. Explain about Real Wages? Real Wages:Value of wages, adjusted for level of consumer prices. If nominal value of wages is growing faster than consumer prices, then real wages
9. The average supernormal profit for the firm is
Exchange Rate Policy: LERMS, a dual exchange rate system, was introduced in the Budget for 1992-93. Under this system, 40 per cent of foreign exchange earnings were to be sur
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What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo
Problem 1: The last half-century has witnessed major changes in the role that governments of developing countries have played, especially in terms of public spending. (a) Ex
ELASTICITIES OF SUPPLY AND DEMAND Usually, elasticity is a measure of the sensitivity of one variable to the other. It told us the percentage change in one variable in re
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