Which of the given options best describes the truthfulness of the following statements?
Which of the given options best describes the truthfulness of the following statements?
i) In the scope of business economics, demand analysis and forecasting is the process of finding values for demand in the future period.
ii) In the scope of business economics, inventory management mentions the stock of raw materials that a firm keeps. If the level of inventory is high, then it will show blockage of funds.
iii) In the scope of business economics, price is the origin of a company's profit. So, its success depends on how the pricing decisions are made.
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Correct answer: (A) i-True, ii-True, in-True
Explanation
All three are correct points from the scope of business economics: demand forecasting predicts future demand, high inventory ties up funds, and pricing decisions decide profit.