Describe the Three Forecasting Time Horizons and Their Use

question 94

Essay

Describe the three forecasting time horizons and their use.

---

Definitions:

Natural Resources

Resources that exist without any actions of humankind, obtained from the environment, often used to produce goods and services.

Solar Energy

The energy derived from the sun's rays, which is harnessed and converted into electricity using photovoltaic cells or other technologies.

Forests

Large areas dominated by trees and other vegetation, serving as habitats for various species and playing crucial roles in the earth's ecological balance.

Total Allowable Catch

A fishery management tool that sets a species-specific maximum quantity of fish that can be legally caught and kept over a specified period.