March 2023

A Level Business Studies: Elasticity of Demand

By |2023-03-25T16:59:18+02:00March 25th, 2023|

  • Elasticity is a concept that is frequently used in economics and business to describe the responsiveness of consumers and producers to changes […]
    • Elasticity refers to the degree of responsiveness of the quantity demanded or quantity supplied of a product in response to a change in its price, income or any other relevant factor.
    • Elasticity is a concept that is frequently used in economics and business to describe the responsiveness of consumers and producers to changes […]
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    A Level Business Studies: The importance of supply and demand to business managers

    By |2023-03-25T16:09:30+02:00March 25th, 2023|

  • Supply refers to the quantity of a good or service that producers are willing and able to offer for sale, while demand refers to the quantity of a good or […]
    • The forces of supply and demand are essential components in a market economy that determine the price and quantity of goods and services.
    • Supply refers to the quantity of a good or service that producers are willing and able to offer for sale, while demand refers to the quantity of a good or […]
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    A Level Business Studies: Factors affecting demand

    By |2023-03-25T15:40:51+02:00March 25th, 2023|

    • In a market economy, demand plays a critical role in shaping the production and pricing of goods and services.
    • Understanding the determinants of demand can help businesses make informed decisions about how much to produce and at what price to sell their products.

    Features of Demand:

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    A Level Business Studies: The market forces of supply and demand

    By |2023-03-25T15:36:27+02:00March 25th, 2023|

    ZIMSEC O Level Business Studies Notes: Production: Supply and Demand (Market Forces)

  • It is important to note that even in an economy like […]
    • As we have already discussed elsewhere in a free market economy, the forces of supply and demand determine the price at which a product is sold
    • It is important to note that even in an economy like […]
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    A Level Business Studies: Factors affecting supply

    By |2023-03-25T15:23:17+02:00March 25th, 2023|

    • In economics, supply refers to the quantity of goods or services that producers are willing and able to offer for sale at a particular price.
    • Understanding the determinants of supply is crucial for businesses, policymakers, and individuals who are involved in the market.

    Features of supply:

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    A Level Business Studies: Forecasting sales using regression analysis

    By |2023-03-26T03:51:55+02:00March 25th, 2023|

    Regression analysis is a statistical method used in market and marketing research to analyze the relationship between a dependent variable and one or more independent variables. Regression analysis helps businesses to understand the nature of the relationship between variables and make predictions or forecasts. One application of regression analysis is in sales forecasting.

    Example data […]

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    A Level Business Studies: Forecasting sales using time series data

    By |2023-03-23T10:45:15+02:00March 23rd, 2023|

    • Time series analysis is a statistical method used in market research to analyze and forecast sales data. It involves studying the pattern and trend of sales data over time to make predictions about future sales.

    Methods:

    There are various quantitative methods used in time series analysis, […]

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    A Level Business Studies: Forecasting sales using the Delphi method

    By |2023-03-23T10:29:46+02:00March 23rd, 2023|

    • The Delphi method is a qualitative sales forecasting technique that involves gathering input from a group of experts to arrive at a consensus about future sales.
    • This approach relies on the collective knowledge and experience of the experts to make predictions.

    Ways in which market […]

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    A Level Business Studies: How market research can be used to forecast sales

    By |2023-03-23T10:19:35+02:00March 23rd, 2023|

    • Sales forecasting is an important aspect of decision-making in business, as it allows companies to plan for the future and allocate resources effectively.
    • Market research can be a valuable tool in predicting future sales, as it provides insights into consumer behaviour and market trends.

    Ways in […]

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    A Level Business Studies: How to forecast sales and why it is important?

    By |2023-03-23T10:04:50+02:00March 23rd, 2023|

    • Sales forecasting is the process of predicting future sales and revenue for a business based on past data and market trends.
    • Sales forecasting is important in market and marketing research as it helps businesses to make informed decisions on production, inventory, marketing, and other key areas of the business.
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