MICROECONOMICS

NMIMS Assignment

Demand Forecasting – NMIMS Assignment Solution for April 2024

•Q2. Anika is working in “Footon ltd Company” that manufactures formal and informal shoes for both men and women. It is observed that for the last few years, the sales figures are fluctuating and there are no vivid reason for the same. Anika’s manager have asked her to prepare a short notes on the importance …

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Demand Forecasting Techniques

Demand Forecasting- Question & Answers

What is Demand Forecasting? Demand forecasting is the process of estimating the future demand for a product or service. It involves predicting the quantity of goods or services that customers will purchase over a specific period. The primary goal of demand forecasting is to help businesses make informed decisions regarding production, inventory management, and overall …

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Economics Question and Answers for NMIMS Assignments of December 2023

Q1. “Demand forecasting plays a vital role and enables organisations to arrange for the required input as per the predicted demand, without any wastage of material and time” Substantiate your view on demand forecasting and discuss the various factors influencing demand forecasting. (10 Marks) Demand forecasting is a critical process for organizations across various industries, …

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INDIFFERENCE CURVE ANALYSIS

Economists like Hicks, Allen, Samuelson’s, Edgeworth etc. have criticized the utility analysis on the following grounds: •Utility is subjective.•Indivisible Goods.•Goods are not independent.•Marginal Utility of Money is not Constant.•Cardinal Measurement is not Possible.•Consumer is not so calculative.•Income Effect of Price change Ignored INTRODUCTION OF INDIFFERENCE CURVE IC analysis is a modern method to analyze consumer’s …

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