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FACTORS CONTROLLING/INFLUENCING FORECASTING OF DEMAND

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  FACTORS CONTROLLING/INFLUENCING FORECASTING OF DEMAND 1. Goods Types: Goods types have a greater impact on demand forecasting than other factors. Products can be manufactured products, services or goods for consumers. In addition, established and innovative commodities are also possible. dependable products are those that are already available on the market, whereas new products are ones that have not yet been created. released on the market. Information on the amount of competition, substitutes, and demand for goods is only known if dependable products. However, it is challenging to predict the demand for the novel products. Therefore, Various sorts of goods require different forecasting techniques. 2. Competition Level: The level of competition affects demand forecasting. The demand for products in a market with lots of competitors is also influenced by how many competitors there are. Furthermore, there is always a chance of new entrants in a market that is extremely competit...
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REQUIREMENTS FOR SUPPLY,

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  REQUIREMENTS FOR SUPPLY 1. Sellers present A market's supply of a good or service will be more plentiful the more vendors there are, and the reverse. When a result, as the number of sellers increases, supply grows and the supply curve moves to the right. While fewer sellers will result in less supply and a leftward change in the supply curve. For instance, as more businesses enter a market, there are more sellers, increasing the supply. 2. Resource prices Resources are more expensive, which drives up manufacturing costs and, in turn, reduces earnings. Profit is a primary incentive for producers to provide goods and services, therefore an increase in profits will result in a rise in supply and a drop will result in a decline. In other words, supply and resource prices are inversely related. When resource prices rise, the supply is constrained and the supply curve is shifted to the left; when they fall, the supply is expanded and the supply curve is changed to the right. 3. Taxes a...
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DEMAND FORECASTING

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DEMAND FORECASTING  Forecasting is the process of anticipating or projecting future customer requirements. No of the structure of the firm, predicting the demand for its products is a critical role. An active method of identifying what products are needed, where, and when, is forecasting client demand for goods and services. When, how much, and when. Forecasting demand is therefore a customer-focused activity. It helps other planning processes including inventory planning, capacity planning, and even general company planning Many businesses have made it a practice to fully and precisely predict their customers' demand. Merchandise often. At both the national and corporate levels, demand forecasting is useless. the demand. Owing to the following uses for demand forecasting. It plays a key function in circumstances of uncertain output or demand. It acts as a road map for production strategies. It makes it easier for managers to plan out their corporate operations. It serves as the fo...
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ELASTICITY OF DEMAND: IMPORTANCE AND SIGNIFICANCE

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 Both producers and policymakers can benefit greatly from understanding the idea of flexibility. Determining the degree of a price increase or drop in order to achieve a desired change in the quantity requested for the goods and services in the company or the economy is a highly useful tool. The following application will demonstrate the concept's practical importance. 1. Price fixation: An understanding of demand elasticity may aid a businessperson in deciding whether to lower or raise the price of his product or to pass along any additional manufacturing costs to customers by charging a high price. Under conditions of monopoly and imperfect competition, each vendor must consider the elasticity of demand when determining the price for his or her offering. He may set a higher price if there is an inflexible demand for the good. 2. Production: A businessperson can decide on production with the help of demand elasticity. The elasticity of demand for diverse products helps a businessm...
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What is paging and segmentation. What is Virtual Memory

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Paging  A technique or strategy used for non-contiguous memory allocation is paging. This theme uses fixed-size partitions (scheme). Both primary memory and secondary memory are separated into equal, fixed-size segments during paging. Pages and frames, respectively, are the terms for the divisions of the secondary memory area unit and the main memory area unit. Paging is a memory management technique used to fetch processes in the form of pages from the secondary memory into the main memory. When paging, each process is divided into parts where each part's size is equal to the size of the page. The final half might likewise be the same size as a page. Depending on their accessibility, the process' pages remain in the main memory's frames. Segmentation Similar to paging, segmentation is a non-contiguous memory allocation mechanism. Similar to paging, the operation is not randomly divided into mounted (fixed) size pages in segmentation. It is a partitioning theme with configu...
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Describe the monopoly market. What are its key characteristics?

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  Describe the monopoly market. What are its key characteristics? A monopoly is an economic system in which there is only one supplier of a specific good, and entry by new competitors is prohibited. A market with a monopoly is one in which a single vendor sells a particular good with no competing options. A market monopoly prevents new businesses from entering the market freely for a number of reasons, including government license's and regulations, high capital costs, complex technology, and economies of scale. These economic growth impediments prevent companies from entering the market. Let's discuss the operation of a monopoly market system. One business controlling all or almost all of an industry's output is referred to be a monopoly market. As a result, this one vendor controls both output and prices. Because there is little to no rivalry from other businesses, this kind of market is sometimes referred to as a monopoly market. When a business only sells the same produ...
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Types of Elasticity in Demand Analysis

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  Types of demand elasticity There are four varieties of demand elasticity: 1. Demand and price elasticity 2. The demand elasticity of income 3. Demand cross-elasticity 4. Advertisement-induced demand elasticity Demand and price elasticity: Price elasticity of demand was initially described by economist Marshall. Measures of the price elasticity of demand fluctuations in quantity and demand lead to price variations. It measures the quantity's percentage change in ratio. Required a price increase in terms of a percentage. Five examples of price elasticity of demand are given. Ideal demand elasticity.  Demand is completely or endlessly elastic when a little change in price results in an indefinitely large change in quantity. E= in this instance. Even when prices remain constant, demand can occasionally vary drastically. In the situation of perfect elastic demand, a commodity's demand changes even when its price remains unchanged. In actual use, this flexibility is extremely unco...
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What is Demand and Analysis?

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What is Demand and Analysis ? Demand is a term used to describe a person's desire for something. But demand is more than this in economics. Demand in economics, in the words of Stonier and Hague, "means demand backed up by adequate money to pay for the commodities sought." This indicates that a demand is only effective if it is supported by purchasing power. In addition, a commodity must be willingly purchased. Therefore, in economics, demand refers to a desire that is supported by a willingness and the ability to pay for a good. according to Benham. The quantity of something at a certain price that will be purchased in a given amount of time at that price is its demand. Therefore, demand is the quantity of a good that a specific client is willing to buy at a specific price within a specific time frame. When all three of the following conditions are met, the demand is said to exist. 1. A desire to buy 2. Financial capacity 3. A readiness to pay Ex: A pauper could want to ...
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What is Business Economics

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  What is Business Economics The application of economic theory and methods to business is known as business economics, or managerial economics. Making decisions is a part of business. The process of choosing one course of action from two or more alternatives is known as decision-making. The availability of basic resources like capital, land, labor, and management is constrained, and they might be put to a variety of other uses. Thus, choosing options and making decisions that will give the most effective method of achieving a desired aim, such as profit maximization, becomes the decision-making function. The CEO must pay attention to several business aspects. He might be asked to pick just one option from the many that might be presented to him. Making the best choice possible, one that advances the company's objective, would be in its best advantage. The company firm must have a logical process and the right instruments in order to formulate the business problem scientifically an...
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What is Inflation and what are the types of Inflation?

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What is Inflation  A persistent increase in a country's average level of prices for goods and services is referred to as inflation, and it is quantified as an annual percentage change. When there is inflation, things cost more money over time. To put it another way, as inflation increases, a smaller portion of a good or service may be purchased with each rupee you hold. Inflation occurs when prices increase or, conversely, when the value of money decreases. The purchasing power of a rupee refers to how many real, observable items or genuine services one rupee can currently purchase. The purchasing power of money decreases as inflation increases. Theoretically, a Rs. 20 pen will cost Rs. 20.02 in a year, for instance, assuming inflation is 2% per year. Your rupee does not purchase as much after inflation as it once did. Types of Inflation Galloping Inflation : Mild inflation may take on the characteristics of galloping inflation if it is not controlled and becomes uncontrollable. G...
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