Explain Two Reasons Why Economic Forecasting Can Only Be of Limited

question 38

Essay

Explain two reasons why economic forecasting can only be of limited use.

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Definitions:

Increased

The state of having become larger or greater in size, amount, number, or degree.

Classical Organizational Theorists

Refer to scholars and thinkers who developed the initial frameworks and theories on how organizations are structurally and functionally designed for efficiency and productivity, including Max Weber and Frederick Taylor.

Modular Organization

A network organization that performs a few core functions and outsources other activities to specialists and suppliers.

Core Functions

The essential activities or duties that are central to the purpose or operation of an organization or system.