Supply and Demand Simulation/ Goodlife

The purpose of this paper is assessing my strategy and decisions in the simulation Biz Café. Then, I will give my results and explain how I got there. However, there were many factors involved creating these results. In this simulation, everything was left up to me to decide how to run my new coffee shop. There were big decisions at the beginning you had to make to create the overall theme of your business. Then, I was to hire employees, buy goods, and act on specials decisions or react to good or bad customer reactions. This, I will explain more in the following paragraphs.

Marketplace Business Simulator is an on-line marketing simulation that incorporates all the marketing principles I have learned over the course of this semester and apply them into real world marketing practice. Simulation was used for the sake of instigating effective results and in that regard, this paper analyses the manner in which each quarter was carried through. The circumstances surrounding each of the decisions made are analyzed intricately and hence a manifestation of the impact of each for each of the quarters is laid bare.

The Supply and Demand simulation was reviewed on the student website demonstrated the concepts of the concepts of microeconomics and macroeconomics. The principles of microeconomics and macroeconomics were explained and applied throughout the simulation demonstrate the rationale for the shifts in the supply and demand curve. Each shift is analyzed showing the effects of the equilibrium price, quantity, and decision making process for the simulated company represented. The concepts encountered in the simulation provide an opportunity to better understand how each can be applied to my current workplace. The Scenario provides an

The objective of the simulation was to maximise profits of Universal Car Rental Company. The simulation was run across three cities in Florida; Tampa, Orlando and Miami.

The legal minimum and maximum prices for goods and services are implemented by governments, in an effort to be able to manage the economy by direct intervention. Price ceilings and price floors are two types of price controls. The legal maximum of price for a good or service is a price ceiling and the legal minimum price of good or service is the price floor. The government may impose both a price ceiling and a price floor but typically only selects one for a specific good or service. Prices are formed by a free market when there is a balance between supply and demand of the good or service. When the legal price is different than that of the market price it will create either an excess in supply or an excess in demand. When a price ceiling is imposed it will create shortages, while having no effect on the quantity supplied. Shortages of goods and services cause consumers to compete robustly over the restricted supply. The shortages arrive from suppliers limiting the supply of goods and services due to the price ceiling, not allowing them to make a profit. The opposite holds true with price floors. Having a price floor creates an excess of goods and services and that allows suppliers to be more agreeable to supply. When price ceilings or price floors are implemented, this can lead to the creation of black markets and inefficient allocation to

Discussion Question: Rent control in New York City is an example of a price ceiling. Landlords cannot rent to tenants at prices above the ceiling. Identify the unconsummated, wealth-creating transactions, and try to figure out how to consummate them.

If the price set for rent control is set below the clearing market price causing a shortage to develop.Price ceiling are used to help halt rising real estate prices in certain areas with rapid growth. If the price is set too low there will be a market shortage because quantity demanded will be higher than quantity supplied. New York City uses rent control because real estate price in that area were higher than the government felt was just for the everyday man.

Normally in a free market the cost of rent is set at a specific price because of simple supply and demand. When there is high demand, investors see an opportunity to create profit so they build more housing making supply increased surpassing demand. Then the price of homes and apartments come back down to a market equilibrium resulting in affordable

The aim of this paper is to cover how each area of the simulation relates to what we have discussed in the class. We are going to discuss target market, 4p’s of marketing, performance metrics and research data.

The industry I chose to research is the superstore industry. An industry, which at one time was dominated by KMart, has gone through enormous change over the past five to ten years. KMart had very little competition when superstores were not really in existence. WalMart became their biggest competitor. New technology along with multiple competitors, have changed the way consumers make purchase.

Demand for housing in Geneva (Dg), is high because of the many employment opportunities there. In addition, Geneva’s scarce land means supply of housing is low, resulting in a high equilibrium rent (Rg). Demand for housing in Geneva is inelastic, since renters in Geneva are less responsive to changes in rent compared to AIR, perhaps due to the perceived necessity of living close to their work.

Market Place Live is a simulation of starting a computer company and as a group you are expected to make all production, marketing, and manufacturing decisions. Along with all of that you have to look into what the consumer wants to buy as well as what size market you are selling to. When it first starts you have to design and name a computer while also making an advertisement that is true about your product to let your customers can expect from their computers. Then after that you have to set up a plant and sales office(s) to make and sell the products. When you are looking at locations to produce and sell the product it is important to see the startup cost as well as the cost to ship the product to the customers. After this part of the simulation it gets a little easier and less complicated because the simulation will load any data that you put in for demand and cash flows to get you ready to submit each quarter.

With these circumstances, it is hard to see how price capping would alleviate the supply gap in rental properties, even with external factors such as land-use regulations playing a part in keeping rent prices high; capping any sort of price increases in rent simply gives landlords an impetus to sell property that they may have instead rented out to homeowners. This suggests that price caps prove little help in alleviating issues in rental property supply for those who need it.

DigiVal & DigiVal Plus Manufacturing Company sells a range of computers, notebook computers, desktop computers, high-end servers and has a market share of 22 percent, along with another office in the U.K. with sales in Europe at 30 percent total sales. There are three team members who are qualified to get the companies market back on track. CEO, B.J. Downey, who targets the strategies, goals and revenue targets has steered DigiVal for the past 12 years. George Hernandez, Group Economist, who handles the analysis of economic trends in the market, Linda Jacobs, Product Manager, contributed vision and strategies within the company and Brent Richardson, Product Manager, that has a strong background

- General business and economic conditions - Competitive factors - Market trends - Firm‟s own plans - Government regulations - Technology changes - Others…