1. expalin law of variable proportion?
2. discuss various method of demand forcasting.
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Ans1: The law of variable proportions states that as the. quantity of one factor is increased, keeping the other. factors fixed, the marginal product of that factor will. eventually decline.
Ans2: The major statistical methods used for demand forecasting are: Trend Projection Method: This method is useful where the organization has a sufficient amount of accumulated past data of the sales. ... Thus, the time series depicts the past trend and on the basis of it, the future market trend can be predicted.
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