Study different methods of sales forecasting and master the theory of diminishing returns in this free diploma course. Grappling with production and costs is a major part of managerial economics. This well-rounded online diploma course will teach you how to forecast demand using both subjective and quantitative methods. You will also analyze the law of diminishing returns and how a rational producer - someone who aims to maximize profit - can operate successfully. The algebra of the break-even analysis and the economies of scale will be highlighted.
| Course Type | Online Learning |
| Course Qualification | CPD Diploma |
| Course Duration | 20-30 hours |
| Course Fee | Free |
| Entry Requirements | Like all courses on the Alison Free Learning platform this is a free, CPD-accredited course. A Graduate can choose to buy a certificate or diploma upon successful completion of a course, but this is not required or necessary. At Alison we believe that free education, more than anything, has the power to break through boundaries and transform lives. Alison is the world’s largest free online empowerment platform for education and skills training, offering over 5000 CPD accredited courses and a range of impactful career development tools. It is a for-profit social enterprise dedicated to making it possible for anyone, to study anything, anywhere, at any time, for free online, at any subject level. Through our mission, we are a catalyst for positive social change, creating opportunity, prosperity, and equality for everyone. |
| Career Path | What You Will Learn In This Free Course • Define 'demand forecasting' • Explain the typical steps for systematic demand forecasting • Discuss the subjective methods of demand forecasting • Distinguish between the various types of quantitative methods of demand forecasting • Discuss the theory of production • Describe the production function • List the properties of Cobb-Douglas production function • Define the conditions of equilibrium • Distinguish between the various categories of costs • Contrast the short-run costs to long-run costs • Explain the break-even analysis • Define 'economies of scale' |
| Course Code | 2890 |
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