Supply and Demand Simulation Paper Principles of Microeconomics 365 Matthew J. Angner June 1, 2010 University of Phoenix Online Introduction The supply and demand simulation was based on the management of rental apartments by GoodLife Management. The apartments are in a fictitious town called Atlantis. Topics that will be reviewed in this paper include changes in supply and demand, how shifts in supply and demand affects decision-making, key points from the reading assignments that
Supply and Demand Simulation ECO/365 Supply and Demand Simulation In the University of Phoenix simulation (2003), students are taken through the supply and demand of two-bedroom apartments in a city called Atlantis. The simulation itself is used as a tool to learn about the demand and supply curves as well as equilibrium. Other key learning points are the factors that affect supply and demand, the effect that a price ceiling has on the quantity demanded and the quantity supplied. Throughout
Analyzing Supply of Demand Simulation ECO/365 January 31, 2010 Analyzing Supply of Demand Simulation Supply and demand is a significant element of business procedures thus this paper will evaluate how supply and demand affects a business via a simulation provided by the University of Phoenix. In this paper, I will talk about the reasons for changes that occur in supply and demand. I will talk about how shifts in supply and demand influence the organization’s decision making process
ECO365 Supply and Demand Simulation Student Name ECO/365 – Principles of Microeconomics Instructor Name Date Introduction Supply and Demand is a phrase that every one hears in one way or another, Supply and demand phrase according to Colander, (2010) is the most used phrase by economist and the reason is because the phrase provides a good “off-the-cuff” answer for many question that have to do with economy. Example why are interest rates to Low? Because supply and demand. Why is Gasoline
Supply and Demand Simulation ECO/365 November 26, 2012 The purpose of this paper is to discuss the Supply and Demand simulation from the student website. The idea is to identify two microeconomic and two macroeconomic principles present in the simulation and to explain why these principles are categorized as macro or microeconomic. The paper will also determine one shift of the supply curve and one shift of the demand curve from the simulation, as well as why these
Supply and Demand Simulation A simulation was conducted to understand supply and demand when renting out apartment homes. This paper will briefly explain two microeconomics and two macroeconomics principles, it will include one shift of the supply curve and demand curve in the simulation. For each of the shifts the affect of the equilibrium price, quantity, and decision making will be analyzed. A description of supply and demand from the simulation and how to apply it in the workplace is included
Basic Concepts Paper Charles Lloyd Eco/415 October 19, 2012 George Flemming Basic Concepts Paper Circumstances, which are different, can have a major affect on supply and demand. The simulation in this week’s assignment deals with the curves of supply and demand and how they are affected by the changing of situations that happens in the city of Atlantis with the two-bedroom apartments. Changes were supposed to be made depending on the findings and results made within the Atlantis community
Applying Supply and Demand Concepts David Hodge ECO 365 April 29, 2013 Robert Watson Applying Supply and Demand Concepts The supply and demand simulation was a very helpful tool in understanding the effects of external factors on the supply and demand curves. Understanding this concept is fundamental in preparing for real life situations. I personally enjoyed the fact that the simulation was based on a real estate management company. I was able to understand and relate to the information
Supply and Demand Simulation This week's simulation is based on GoodLife Management. GoodLife Management is located in the fictitious town of Atlantis, and rents two-bedroom apartments on a month-to-month basis. The simulation provided working examples of several factors that effectively change the supply and demand of GoodLife's rentals over the course of several years. These factors include GoodLife's management direction, population changes within Atlantis and outlying areas, changes in consumer's
MMATIVE ASSIGNMENT 1 (S1) System modelling & Simulation Background information: To begin with, the simulation named as Beer Game was being founded by Jay Forrester at MIT which illustrates the supply chain run by group based coordination including retailer, wholesaler, distributor and factory (Forio 2001). Moreover, the role of a retailer has been given which means the gamer have to manage the overall inventory for the retail outlets of an American company Samuels Root beer, located in Pittsburgh