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Q. Show the importance of Demand forecast?
Demand forecast for a particular commodity furthermore offers recommendations for demand forecast of associated industries. For example the demand forecast for vehicle industry aids the tyre industry in computing the demand for two wheelers, three wheelers and four wheelers.
Significance for the government: At the macro-level, demand forecasting is valuable to government as it aids in determining targets of imports and exports for different products and preparing for international business.
Price Elasticity of Demand and the slope of the Demand Curve Elasticity determines the shape of the demand curve. From the formulas
TC=100+0.15Q, Qu=1000-10Pu
Using Total Expenditure for Calculating National Income The expenditure approach centres on the components of final demand which generate production. It thus measures GDP
Q. Construction of the causal model - regression analysis? The construction of an explanatory model is a crucial step in the regression analysis. It should be defined with refe
EFFICIENCY-WAGE THEORIES OF UNEMPLOYMENT Efficiency wage theories are clearly non-Walrasian theories in as much as they postulate payment of wages that are higher than m
What are the limitations of managerial economics
Q. Central characteristics of Simon satisfying behaviour model? The pattern of policy commitments which result from the bargaining process can be seen to be a specification of
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
construct a decision tree for the baked potatoes outlet using sales per day, number of days that quantity is sold together with selling prices per unit and average costs
Q. What is the economic role of government? What are the roles? Meaning: economic role is the role played by the government in uplifting the economy. The important roles: 1.
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