Examlex
Suppose we observe that both the equilibrium price of digital cameras and the equilibrium quantity of digital cameras have increased. Which of the following events could be responsible for this?
Bottom-Up Budgeting
A budgeting method where the budget is created with input from lower-level employees, leading up to a total company budget.
Extrapolation
The process of estimating, beyond the original observation range, the value of a variable on the basis of its relationship with another variable.
Previous Year's Budget
The financial plan containing income and expenditure for the prior year, used as a reference or benchmark for current financial planning.
Forecasting
The process of predicting future events, trends, and behaviors based on historical data and analysis.
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