What Method Is Used to Predict Exactly How Some Variable

question 38

Multiple Choice

What method is used to predict exactly how some variable or variables will change in the future?

• A) environmental scanning
• B) sorting information
• C) forecasting
• D) searching
• E) competitive intelligence

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Definitions:

Average Person

A hypothetical individual who represents the common or typical characteristics of a group, often used in statistical and economic models.

Trash

Waste material or unwanted items that are discarded, often sent to landfills or recycling centers for disposal.

Commodity Price Index

An index that measures the change over time in the price of a basket of commodities.

Productive Resources

Inputs used in the production of goods and services, such as land, labor, capital, and entrepreneurship.