Development of a New Approach to Forecasting Demand

Marguerite C. Burk

American Journal of Agricultural Economics, 1964, vol. 46, issue 3, 618-632

Abstract: Low income elasticity of demand for food and decreasing variations in consumption due to degrees of urbanization have depreciated the usefulness of income and urbanization for forecasting demand. This article reports some preliminary investigations and reviews earlier research pertinent to the possibility that moderately high income families may act as forerunners of changes in demand and consumption. Also, the author outlines a preliminary conceptual framework for analysis of family consumer behavior. Measurement of the interrelationships indicated by this framework may provide valuable clues for forecasting changes in the way Americans will live as they respond to a wide range of economic, technological, and social changes.

Date: 1964
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