One of the most important principle in this regard is the appropriate product history which effects the future demand of the product.
<u>Explanation:</u>
Demand forecasting is to make predictions and forecast the demand of the product that has been produced by a particular firm. Since the demand has to be forecasted and predicted, a lot o factors which might be controllable and might be uncontrollable factors have to be taken in mind to forecast the demand.
The things to be kept in mind in this regard are the history of the product where previous sales will affect the prediction of the future demand, the promotions of the product, the trends and so on.
Scarce resources are those resources that have limited availability in combination with greater productive uses. Time is a scarce resource as well as all have limited time in our life. In addition, out of the limited time we have, a significance portion of that time is spent on unproductive tasks such as sleeping, bathing among other tasks. As more and more time is spent on a given activity the opportunity cost of that activity in terms of other activities rises. Opportunity cost in this case is the benefit that a person could have received by involving himself in a given task, but gave up to take up another task.
Which activity is the fourth step in the decision-making process of solving a workplace problem? C. Implement the solution
The first step is is to identify the goal, then gather the information and generate alternatives, evaluate the consequences, implement the solution
When you implement the solution you are deciding the best choice after considering the alternatives and putting the plan into action.
Answer
The answer and procedures of the exercise are attached in a the written images.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the correspondant indications.
Answer:
The correct answer is number (2): Reduce reliance on market forces because they allocate goods and services in an unfair manner.
Explanation:
Relying on market forces imply letting supply and demand freely decide the levels of quantity demanded and supplied goods and services and their corresponding prices. This scenario could lead to unfair market competition and inhuman labor standards. For that reason, government intervention is necessary to set fair rules for organizations and individuals within society.
