Category: 8. Market Structure

Criteria for Good Demand Forecasting Demand forecasting can be effective if the predicted demand is equal to the actual demand. The effectiveness of demand forecasting depends on the selection of an appropriate forecasting technique. Each technique serves a specific purpose; thus an organisation should be careful while selecting a forecasting technique for a particular problem. Table…

What is Demand forecasting? Demand forecasting is a process of predicting the demand for an organisation’s products or services in a specified time period in the future.  Table of Content [Show] Techniques & Methods of Demand Forecasting Different organisations rely on different techniques to forecast demand for their products or services for a future time period depending…

What is Demand Forecasting? Demand forecasting is a process of predicting the demand for an organisation’s products or services in a specified time period in the future. Demand forecasting is helpful for both new as well as existing organizations in the market For Example, for various needs for demand forecasting in business organizations, a new organisation needs…

What is Market Power? Market power define as the ability of an organisation to raise the market price of a good or service over marginal cost to achieve profits. It can also be defined as the degree of control an organisation has over the price and output of a product in the market. A firm with total…

Profit Maximization Definition Profit maximization can be defined as a process in the long run or short run to identify the most efficient manner to increase profits. It is mainly concerned with the determination of price and output level that returns the maximum profit. It is an important assumption that helped economists in the formulation of various economic theories, such…

What is Market Structures? Market structure can be defined as a group of industries characterised by a number of buyers and sellers in the market, level and type of competition, degree of differentiation in products and entry and exit of organisations from the market. Table of Content [Show] The study of market structure helps organisations in understanding…