Which of the Following Is Not Necessarily an Element of a Good

question 8

Multiple Choice

Which of the following is not necessarily an element of a good forecast?

• A)estimate of accuracy
• B)timeliness
• C)meaningful units
• D)low cost
• E)written

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Definitions:

Domestic Market

The supply and demand for goods and services within a single country.

Domestic Producer Surplus

The difference between what domestic producers are willing to accept for a good and the actual price they receive, measuring their economic benefit.

Tariff

A tax imposed by a government on goods imported from another country, intended to increase the price of foreign goods and protect domestic industries.

Oranges

A type of citrus fruit known for its juicy segments and rich source of Vitamin C.