Potential Impact of Retail Sales and Personal Income Forecasts on Essay

Potential Impact of Retail Sales and Personal Income Forecasts on Tobacco Industry - Essay Example But regardless of the source, increases in the retail price of cigarettes causes a decrease in the quantity of cigarettes demanded, though the ratio is less than 1 to 1 when comparing the percentage price increase to the percentage of consumption decrease. This shows that there is resistance to forgoing consumption altogether, and that few if any substitute goods are available to the consumer. The correlation between income and spending can be summed up as follows: "In general, growth of retail sales follows the same path as the growth of personal income. However, this may not be the case during economic slowdown and expansion. In general, in the time of recession, retail sales tend to grow slower than personal income, while in the time of economic boom, retail sales tend to grow faster than personal income" (Kovalyova & Zakharova, 2003). This implies that consumer spending anticipates future economic conditions, and that so-called consumer confidence plays a bigger - or at least a leading - role in purchasing patterns than do actual changes in macroeconomic conditions.

Paraphrase Essay Example | Topics and Well Written Essays - 500 words - 7

Paraphrase - Essay Example This extends sources of the practitioners’ knowledge to available historical data through existing publications (Hoffmann, Bennett and De Mar, 2010; Akobeng, 2005). Systematic review is also important to knowledge development for new research. Its analytical approach that plays the same role as formal literature review allows researchers to consolidate existing knowledge on a subject and to identify knowledge gaps for possible new studies. The reviews, with this respect, contribute to new research through informing research objectives, research questions, and research hypotheses. In addition, results of systematic reviews identify theories from related research that can be used in proposed or future studies. Effects of the reviews also extend to influence on research methodologies of new studies through elements such as selection of research methods and design, sampling strategy, and data collection strategy and tools. Ability of systematic reviews to identify weaknesses of pr evious studies also offer a basis for corrective measures and therefore helps to resolve such problems like bias in studies (Booth, Rees and Beecroft, 2010). Data extraction is a process by which data is collected from their sources and is organized into desired form for presentation to the audience. Examples of forms in which extracted data can be communicated are tables and graphs that facilitate understanding. Data extraction is a fundamental process in systematic reviews and helps in identification of elements of a research such as a study’s methods and design, sample and population, and applied treatment and mode of application. The process of data extraction is however largely subjective to a researcher’s interest and opinion and therefore susceptible to bias (Cochrane Handbook, 2011; Petticrew & Roberts, 2006). Summary of studies’ findings is important to any form of analysis and