The Deviation of Actual Demand from the Forecast Is Called

question 83

Multiple Choice

The deviation of actual demand from the forecast is called ______.

• A)overforecasting error
• B)underforecasting error
• C)forecasting error
• D)none of these

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Definitions:

Parity Ratio

A measure used to compare the relative prices of different goods or inputs, often used in agriculture to assess fairness or sufficiency in pricing.

Acreage Allotment

A government control mechanism to limit the production of certain crops by allocating a fixed amount of acres for their cultivation.

Agricultural Products

Items produced through farming or the cultivation of soil for the growing of crops and the rearing of animals to provide food, wool, and other products.

Farm Employment

Refers to labor or jobs related to agricultural activities, including cultivation, livestock management, and crop production.