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Sample Survey and Test Marketing: Under this method some representative households are selected on random basis as samples and their opinion is taken as the generalized opinion. This method is based on the basic assumption that the sample truly represents the population. A variant of sample survey techniques is test marketing . product testing essentially involves placing the product with a number of users for a set period. Their reaction to the product are noted after a period of time and an estimate of likely demand is made from the result.
The End Use Method: In this method the sale of the product under consideration is projecting on the basis of demand survey of the industries using this product and intermediate product. In other words demand for the final product is the end use demand of the intermediate product used in the production of this final product.
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In the table below are given the output (X), T.C., and Price for a firm. Complete the following table, and then answer the questions at the bottom of the table. X T.C P=A.R
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
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Capital formation: Growth Economists believe that accumulation of capital is one main source of growth of an economy. Emphasis is given to the accumulation of more capital pe
Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa
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#qu3. An industry is composed of 20 firms, all with equal sales. The Herfendahl Index ratio in this industry is a. 1000 b. 500 c. 800 d. This cannot be determined from the informat
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