Past Behavior of Demand Is Indicative of Its Future Behavior,therefore

question 50

Multiple Choice

Past behavior of demand is indicative of its future behavior,therefore past demand data can be used to construct demand forecasts.This statement is the underlying principle of the ______ method.

• A)causal
• B)market research
• C)time series analysis
• D)Delphi

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Definitions:

William James

An American philosopher and psychologist, often referred to as the father of American psychology, known for his works on pragmatism and the psychology of religious experience.

Behaviourism

A theoretical approach in psychology that focuses on observable behaviors and external stimuli, neglecting internal mental states.

External Stimuli

Environmental factors or inputs that can provoke a response from an individual or organism, ranging from physical to emotional responses.

Animal Research

The use of non-human animals in scientific experiments to study biological, psychological, or social processes.