DEMAND ESTIMATION & FORECASTING | | | | MANAGERIAL ECONOMICS | AYESHA KHAN | ROLL NO. – 65PGDM – A25 / 9 / 12 | | DEMAND FORECASTING – Demand forecasting is the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods‚ such as educated guesses‚ and quantitative methods‚ such as the use of historical sales data or current data from test markets. Demand forecasting may
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CHAPTER 2 DEMAND AND SUPPLY All Rights Reserved 2– 1 DEFINITION OF DEMAND Demand is defined as the ability and willingness to buy specific quantities of goods in a given period of time at a particular price‚ ceteris paribus. All Rights Reserved 2– 2 CLASSIFICATION OF GOODS AND SERVICES Free goods are goods that have no production cost. Public goods are goods that are for common use and will benefit everyone. Economic goods are goods of value that can
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Training is the acquisition of knowledge‚ skills‚ and competencies as a result of the teaching of vocational or practical skills and knowledge that relate to specific useful competencies. Training has specific goals of improving one’s capability‚ capacity‚ productivity and performance. It forms the core of apprenticeships and provides the backbone of content at institutes of technology (also known as technical colleges or polytechnics). In addition to the basic training required for a trade‚ occupation
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* Question 1 0 out of 1 points | | | Duopolists A and B face the following demand curves: QA = 120 2PA + PB and QB = 120 2PB + PA. If both firms have zero marginal cost and they form a cartel‚ what is the profit-maximizing price and quantity?Answer | | | | | Correct Answer: | a. P = 60‚ Q = 120 | | | | | * Question 2 1 out of 1 points | | | Total surplus in a market is a measure of:Answer | | | | | Correct Answer: | c. social welfare created by the market
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The History of Computers Whether you know it or not you depend on computers for almost every thing you do in modern day life. From the second you get up in the morning to the second you go to sleep computer are tied into what you do and use in some way. It is tied in to you life in the most obvious and obscure ways. Take for example you wake up in the morning usually to a digital alarm clock. You start you car it uses computers the second you turn the key (General Motors is the largest buyers
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KEYPOINT 1: Computer Literacy (Literacy-ability to read/write) Introduction: • How many people in this classroom learn to use computer? As I look around‚ no one in this classroom‚ don’t use computer in their offices. • We are all students of AIC‚ and most likely gone to different basic computer course. • Does studying computer affect the way we communicate? And if so‚ is this a bad thing? Development • As our society‚ increasingly dependent on computers to take care
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technology‚ we cannot imagine how the world would function without computer system as every profession is in one way or another facilitated by the use of computer. Computer is an electronic device with sets of programs and application installed to facilitate users. Computer is used in almost every field that needed accuracy‚ advance administration‚ time saving and computer could accomplish many tasks easily within a short period of time. Computers are being used in almost every medical institute‚ hospitals
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Careers In Computer Engineering Careers In Computer Engineering While financial analysts‚ government officials‚ and employment specialists frequently disagree on conditions existing in the American economy today‚ everyone concurs with the idea that a college graduates possessing a degree in the field of computer engineering is in the enviable position of being able to pick and choose among job offers with several major computer companies and other Fortune 500 employers. Over the last five
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indicates that: A. The demand for corn is elastic. B. The demand curve for corn is upward sloping. C. Corn is a Giffen good. D. The demand for corn is inelastic. Solution: C. Corn is a Giffen good. Giffen goods are an exception to the Law of Demand. Contrary to the Law of Demand‚ the Giffen Effect occurs when the price of an inferior good falls and its demand also decreases. This is because people are now allocating their excess disposable income‚
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Topic 5 – Demand‚ Supply and government policy (Week five Oct 6th – Oct 13th) Outline: 1. Price Ceiling: -- General Analysis; -- Example: Rent Control; 2. Price Floor: -- General Analysis; -- Example: minimum wage law; 3. The Incidence of Sales Tax -- Key Results; -- Numerical Examples: a)Tax levied on sellers; b)Tax levied on buyers; -- Elasticities of demand and supply; Price Ceiling A legal maximum on the price at which a good can be sold 1) General Analysis Price 12 PE 8 Shortage 16 QE
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