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Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the probable buyers of the product. Survey methods include.
Complete Enumeration Survey: Under the complete Enumeration Survey the firm has to go for a door to door survey for the forecast period by contacting all the households in the area.
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Circular Flow of Income: The diagram shows Real Flow (goods and services) and Monetary Flow (Income and expenditure). The bottom pair of arrows depicts the goods market.
Define
National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
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Area of Dominant Influence (ADI) The ADI is a geographic area made up of all over the world that receive signals from radio and television stations in a individual market.
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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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