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Economics

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Techniques & Methods of Demand Forecasting

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:30 mins read
Methods of Demand Forecasting

Methods of demand forecasting are broadly categorised into two types: 1. Qualitative 2. Quantitative Techniques

Continue ReadingTechniques & Methods of Demand Forecasting

What is Demand Forecasting? Definition, Types, Importance

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:46 mins read
Demand Forecasting
Demand Forecasting

Demand forecasting is a process of predicting the demand for an organisation’s products or services in a specified time period in the future.

Continue ReadingWhat is Demand Forecasting? Definition, Types, Importance

What is Elasticity of Supply? Definition, Formula, Example, Determinants

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:46 mins read
Elasticity of Supply

Elasticity of supply is a measure of the degree of change in the quantity supplied of a product in response to a change in its price.

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What is Advertisement Elasticity of Demand? Formula, Example

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:22 mins read

The advertisement elasticity of demand is a degree of responsiveness of a change in the sales of a product with respect to a proportionate change in advertisement expenditure.

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What is Cross Elasticity of Demand? Formula, Types, Example

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:25 mins read
Cross Elasticity of Demand

The cross elasticity of demand can be defined as a measure of a proportionate change in the demand for goods as a result of a change in the price of related goods.

Continue ReadingWhat is Cross Elasticity of Demand? Formula, Types, Example

What is Income Elasticity of Demand? Types, Formula, Example, Factors

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:32 mins read
Income Elasticity of Demand

Income elasticity of demand means the ratio of the percentage change in the quantity demanded to the percentage in income.

Continue ReadingWhat is Income Elasticity of Demand? Types, Formula, Example, Factors

Importance of Price Elasticity of Demand

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:20 mins read
Income Elasticity of Demand

The concept of price elasticity of demand plays an important role in the functioning economies by having a significant contribution in the field of industry, trade, and commerce.

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Factors Affecting Price Elasticity of Demand

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:9 mins read
Factors Affecting Price Elasticity of Demand

The price elasticity of demand of a product reflects the change in the quantity demanded as a result of a change in price.

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Types of Price Elasticity of Demand

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:35 mins read
Types of Price Elasticity of Demand Definition, Example, Figure

There are 5 types of price elasticity of demand: Perfectly Elastic, Perfectly Inelastic, Relatively Elastic, Relatively Inelastic, Unitary Elastic.

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What is Price Elasticity of Demand? Formula, Example, Measurement

  • Post last modified:6 April 2023
  • Post category:Economics
  • Reading time:42 mins read
Price Elasticity of Demand

Price elasticity of demand is the measure of a change in the quantity demanded of a product due to change in the price of the product in the market.

Continue ReadingWhat is Price Elasticity of Demand? Formula, Example, Measurement
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