Author Question: What are the prerequisites of a good forecast? What will be an ideal ... (Read 34 times)

jman1234 · **on:** Jul 1, 2018

What are the prerequisites of a good forecast?

What will be an ideal response?

Question 2

The steeper the labor supply curve,

A) the higher the wage the monopsonist pays.
B) the lower the wage the monopsonist pays.
C) the smaller the difference between the wage and the marginal expenditure on labor.
D) the better off workers are.

Laurenleakan · **Reply #1 on:** Jul 1, 2018

Answer to Question 1

A forecast must be consistent with all aspects (parts) of a business. A forecast should be based on knowledge of the relevant past, unless underlying conditions change or there is no past to consider. A forecast must consider the economic and political environment in which businesses operate. A forecast must provide information in a timely manner.

Answer to Question 2

B