BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bid price
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Ask price
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Seasonal demands
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Permanent price change
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Detailed explanation-1: -What is seasonal demand? Seasonal demand refers to the changes in consumer buying habits depending on the time of year. This may be related to changes in season (i.e., higher demand for snow boots during winter vs. higher demand for sunglasses during summer).
Detailed explanation-2: -Causes of seasonality in demand for goods and services Depending on the change in weather conditions, the demand for products also changes. In winter, a certain product group is more in demand – down jackets, Christmas trees, hats, etc. In the summer, sales of completely different products increase.
Detailed explanation-3: -Seasonal demand forecasting is the process by which business owners and managers determine the ebb and flow of sales throughout the year or over the course of different seasons. Customers’ needs can change dramatically between seasons.