Types of Costs
10 Types of Costs - Opportunity, Explicit, Implicit, Accounting, Economic, Business, Full, Fixed, Variable, Incremental.
Types of Production Functions: Cobb Douglas, Leontief, CES
Types of Production Functions: 1. Cobb Douglas, 2. Leontief 3. Constant elasticity substitution (CES) production function.
What is Production Function? Formula, Uses, Assumption
Production Function definition, meaning, uses, assumptions, limitations
Production function can be defined as a technological relationship between the physical inputs and physical output of the organisation.
What is a Production Possibility Curve? Definition, Example, Formula
Production Possibility Curve (PPC) is a curve that shows the alternative combinations of two goods and services by using all the available factor resources, efficiently.
What is Production in Economics? Concept, Factor, Importance
In economics, Production is a process of transforming tangible and intangible inputs into goods or services.
Criteria for Good Demand Forecasting
Criteria for Good Demand Forecasting are: 1. Accuracy 2. Timeliness 3. Affordability 4. Ease of interpretation
Techniques & Methods of Demand Forecasting
Methods of demand forecasting are broadly categorised into two types: 1. Qualitative 2. Quantitative Techniques
What is Demand Forecasting? Definition, Types, Importance
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.
What is Elasticity of Supply? Definition, Formula, Example, Determinants
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.
What is Cross Elasticity of Demand? Formula, Types, Example
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.
