A Sales Forecast That Relies Heavily on Macroeconomic and Industry

question 61

Multiple Choice

A sales forecast that relies heavily on macroeconomic and industry forecasts is called a

• A) top-down forecast
• B) bottom-up forecast
• C) plug figure
• D) none of the above

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Definitions:

Production Possibilities Curve

A graph that shows the different quantities of two goods that an economy can produce using all of its resources efficiently.

Scarcity

Fundamental concept of economics that indicates that there is less of a good freely available than people would like.

Production Possibilities Curve

A graphical representation that shows the maximum combination of goods or services that can be produced with a fixed amount of resources.

Efficiently

Pertains to achieving maximum productivity with minimal wasted effort or expense.