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Simple Inventory Model
Firstly, the product level initiates a demand, which generates a demand at the component level and then in turn at the raw material level. Think of an amplifier for an audio system. Firstly, the finished product. This is disassembled into its major components and in turn the major components are constructed from raw materials.
Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complement
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
4 models
what are things you need to look in manner of functions,elements,purpose,types and definitions?
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