The Two General Approaches to Forecasting Are

question 79

Multiple Choice

The two general approaches to forecasting are:

• A) qualitative and quantitative.
• B) mathematical and statistical.
• C) judgmental and qualitative.
• D) historical and associative.
• E) judgmental and associative.

Identify factors leading to changes in supply and demand, including government interventions like taxes and subsidies.

Understand market efficiency, including allocative and productive efficiencies, and the conditions under which they are achieved.

Distinguish between substitute and complementary goods, and normal and inferior goods.

Explain how equilibrium price and quantity in the market are determined and affected by shifts in supply and demand.

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Definitions:

Net Present Value

A valuation method that reflects the present value of an investment's future net cash flows minus the initial investment cost.