Learning Goal: I’m working on a economics question and need the explanation and answer to help me learn.
Why is knowing (or estimating) the product demand so crucial for a firm? What are the differences between estimating and forecasting demand?
In your response, include an example of a business that has suffered from poorly forecasting the demand of its products. Evaluate how or why the business made such a mistake.
Use examples that are not from our textbook. 2x responses.
