Chapter 1 Itβs Not Just about Forecasting
The following are the key points in the chapter. Elaborate on each
point in at least 30 words.
- Understanding economics can help you to diagnose the causes of
increases or decreases in sales volumes and costs.
- Business decisions are about the future and must rely on a view of
the future.
- Economics can help you form a more accurate vision of the future,
compared to other common methods of forecasting.
- As a business manager, you should focus more on the broad magnitudes
of changes rather than specific numbers.