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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.
Describe the poverty cycle and suggest how a developing country can break the cycle. The poverty cycle is explained as the trap developing countries can land in; low incomes →
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
The prevention of major swings in economic activity can be handled most easily by the
Ask qI run a company that makes household power plants that use microeconomic textbooks to generate enough electricity each day for one house. Since there are a lot of used microec
what is disposable income and its importance.
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
Discrimination: As a result of sexist and racist attitudes and deliberate efforts of employers to oppose groups of workers against each other, different groups of people (divided a
What population information is needed by local authorities to provide the right number of primary and secondary school places? How would such information affect the plans of the lo
Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
meaning of economics laws
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