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14. It helps a firm in fore casting the most important economic variables
like demand and supply, cost and revenue, price, sales and profit etc.
and formulate sound business policies.
15. It also helps in understanding the various external factors and forces
which affect the decision-making of a firm.
Thus, it has become a highly useful and practical discipline in recent years
to analyse and find solutions to various kinds of problems in a systematic
and rational manner.