1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Talja [164]
4 years ago
5

How could prediction lead to better economic decision making

History
2 answers:
Scrat [10]4 years ago
3 0

Explanation:  Prediction is an integral and essential part of the economy, because it can gain insight into market conditions in the immediate, near or further future. This is of course done on the basis of many economic indicators and probabilities arising from previous market experience and other economic parameters. This does not mean that the prediction will always prove to be true, or at least in the highest percentage true, but that is why it is called prediction. In any case, experienced economists know how to predict market conditions and make decisions on how, where, what to invest, what will make the best profit, etc. It also implies in what order to invest, what monetary policy should look like. In a word, forecasting can contribute to better economic decision making in order to maximize profits.

inna [77]4 years ago
3 0

In this way knowledge of economics helps individuals and firms to improve the quality of their many decisions. Thus governments and other organizations use knowledge and methods of economics in a more direct way to take decisions on fiscal policies, taxation rates, and other economic regulations.


You might be interested in
What was the aftermath of the battle of Princeton?
siniylev [52]
The battle of princeton was a battle where General George Washington's forces defeated British Forces. The United States lost from 25-44 people and Great Britain lost from 18-100 forces.

The Victory of winning the battle of Princeton raised morale and more people began to enlist in the army to make the United States Army larger and stronger. 
3 0
3 years ago
What did the federalists have to promise to add to get the constitution ratified?
frosja888 [35]
That slaves could go free if they had more than 2 children free.
8 0
3 years ago
Guess y the government wants to put human microchipping in our rist
Ulleksa [173]

Microchipping will never happen because its a infridgement of our freedom . These are all rumors and will never truly happen. Most cases of chipping werew with consent and some sort of digital credit card.

8 0
3 years ago
Read 2 more answers
Write a short story including a traditional and command market. It doesn’t have to be long.
MariettaO [177]

Jeff lives in a third-world country (Mexico). He is under a traditional economy. He likes to keep it simple, he doesn't get as much profit or surplus as he would in a different type of economy. However, Jeff is very socially satisfied and has a pronounced role in the economy. But, the other day he broke his leg and wasn't able to access doctors through technology, or even have access to Western Medicine. On the other hand, Jenna lives in North Korea. There the government controls everything like resouces, the factories, and equipment. Jenna almost never experiences enemployment as the government provides a steady flow of them. But, this whole process sometimes causes protests in her country, which the government then has to control. Both economies have advantages and disadvantages, Jeff and Jenna are pen pals.

4 0
3 years ago
What was the name of the first tribe known to inhabit Greece
4vir4ik [10]
The answer should be the pelasgians
8 0
4 years ago
Other questions:
  • The Union tried hard to prevent the Confederacy from establishing what?
    5·2 answers
  • What did a complete solar eclipse mean to ancient civilizations?
    7·1 answer
  • What, in some states, is a valid reason for denying someone the right to vote? A. gender B. race C. criminal conviction D. lack
    15·2 answers
  • Humanism was a system of thought that focused on human values, interests, and welfare. It discouraged superstition and promoted
    7·2 answers
  • Which of the item below is MOST related to the Colonial Era?
    15·1 answer
  • When consumers seek to buy goods at the best possible price they are exercising self-__________.
    11·2 answers
  • I’m so tired and I have no clue what this is please help me
    5·1 answer
  • PLEASE ANSWER DUE TODAY!! <br> What does genocide mean and give me at least one example of it?
    9·1 answer
  • The armed conflict between Pennsylvania farmers and the US government in the 1790s was called
    11·1 answer
  • Pleas help meeeeeeeeee its about the gettysburg address
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!