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Give Examples of Industries in Which Demand Forecasting Is Dependent

question 114

Essay

Give examples of industries in which demand forecasting is dependent on the demand of other products.


Definitions:

Selling Price

The amount for which a product or service is sold to the customer.

Market Price

The current value at which an asset or service can be bought or sold in a marketplace.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Marginal Revenue

The additional income gained from selling one more unit of a good or service.

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