The simulation this week was based on an apartment rental agency, GoodLife Management, in a fictitious town of Atlantis. GoodLife Mgmt. manages the month-to-month rental of 2- bedroom apartment units. BY using different situations and assumptions, the simulation provides examples of how certain market factors can affect the supply and demand of GoodLife’s rental units over a period of years. The factors illustrated included GoodLife 's managerial vision, the effect of population changes within Atlantis and outlying areas, changes in customer 's preferences and the application of price ceilings. Through the progression of the simulation, several key concepts were presented, they were: 1) supply and demand, 2) market and price equilibrium, 3) shifts in supply and demand and 4) the potential effects of governmental imposed price ceilings.
Key Concepts
According to Colander (2002), microeconomics is the interaction and behavior of individual units in an economy. Conversely he says that macroeconomics looks at the economy as an collective or aggregate. While microeconomics has a narrow view of the economy, macroeconomics looks at the economy from a broad perspective. The simulation presents Atlantis as a small, friendly city with adequate infrastructure, which makes it a suitable habitat. This view of Atlantis is a macroeconomic view considering this analysis covers a broad spectrum. Furthermore, the simulation continues to indicate that Atlantis has very little traffic and
This week’s assignment examined the effects of supply and demand on the pricing and availability of real world goods. In this instance, the simulation looked at pricing and availability of two bedroom apartments in the fictional city of Atlantis. The simulation takes a look at several different situations, outside market factors and governmental influence. By going through the simulation and adjusting the pricing levels of the apartments and the number that are being made available to be rented, the simulation shows the effects of things like new employers moving into the area, rent control laws being put into effect and the
Goodlife Management is the sole provider of apartments available for rent in the city of Atlantis in which the supply and demand simulation provided by UPOX takes place. The simulation provides excellent, real-life examples of how the supply and demand curves may shift based upon various factors that occur within the market in Atlantis. The following details such examples as microeconomics versus macroeconomics, equilibrium pricing, and what drives the elasticity of the market price of the two-bedroom apartments that are available for rent in Atlantis.
Bacon trusted that science could propel people socially. In the New Atlantis the lord offers numerous depictions of what the general public brings to the table and what it is doing experimentally. Advancement is apparent in that natives benefit from these logical headways. “Our foundation is the knowledge of causes, and secret motions of things; and the enlarging of the bounds of human empire, to the effecting of all things” (Bacon 18). He then clarifies how the island got some of its data and the positions at which certain individuals are permitted to lead tests. He likewise uncovers to the sailors, “These are, my son, the riches of Salomon’s House” (Bacon 23). Inside of this "house" there is a choice of researchers and adventurers that lead
Macroeconomic analysis helps firms to explore the interrelationships among a whole host of markets, while microeconomics focuses on variables like price and quantity, & cost
Microeconomics is economics in a company that focus mainly on market, consumption, and supply and demand. Macroeconomics on the other hand focus on nation's economics as a whole, thus it is harder to come up with a solution. An example would be an economist in the Department of The Treasury. This job concentrates on macroeconomic aspects such as tax policies, problem analysis, assumes technical responsibility for various phases, research and evaluates different data, and produce recommendations associate with different problems. As this job seen to have little impact on the environment, it would be very wrong. Macroeconomics is made out many microeconomics decisions and many companies including energy companies, and other harmful one. The solution is harder than jobs in microeconomics and there might not be
To be granted the privilege of participate in the Atlantis Project would be life fulfilled. I have always known that I aspire to practice medicine and I am confident that the opportunities available in this project will give me the exposure I need to be able to achieve this. Ever since high school, I have participated in programs and taken classes geared toward this aspiration I have of becoming an anesthesiologist. The opportunities offered by the Atlantis Project are beyond any of which I have had the pleasure of experiencing thus far. Learning, of course, is the driving force of my decision to apply to this program. I am a firm believer that a critical component of care is education. In order to provide the best possible care in future,
Macroeconomics focuses on motion and flow direction in the economy as a whole, while the microeconomic focus is placed on the factors that affect the decisions made by companies and individuals (Macroeconomics, 2014). Factors investigated by macro and micro will often affects each other, such as the current level of unemployment in the economy as a whole that could impact the supply of workers of an oil company can rent out, for example.
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. Macroeconomists study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. They develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance.
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. The shifts in supply and demand will have an effect on the Goodlife decisions. This simulation has four emphasized key points they are price ceilings, supply and demand, shifts in supply and demand, and equilibrium. This paper will summarize
“This is by far the greatest discovery in the history of the Atlantis” suggests by of one of the finest scientists Maxine Klein Asher, the co-director of a scientific voyage searching for Atlantis, declared "This is by far the greatest discorvery in the hisotry of the Atlantis," upon finding a city at the bottom of the Atlantic Ocean around Spain (Oman).A few other archeologists and explorers have claimed to discover evidence of a continent that was previously existed, but, today, this evidence cannot be proven. Tony Benik reported the existence of an enormous eleven-room pyramid with a huge crystal top 10,000 feet underwater in the mid-Atlantic Ocean. Soviet expeditions led by Boris Asturua claimed to have found a sunken city about 400 miles off of Portugal. This city had buildings of extremely strong concrete and plastic.
Macroeconomics is the branch of economics concerned with the aggregate, or overall, economy. Macroeconomics deals with economic factors such as total national output and income, unemployment, balance of payments, and the rate of inflation. It is distinct from microeconomics, which is the study of the composition of output such as the supply and demand for individual goods and services, the way they are traded in markets, and the pattern of their relative prices.
Microeconomics is defined as: The study of the operations of the components of a national economy, such as individual firms, households, and consumers (www.answers .com accessed 02Oct07). This is a study of the relationship between the consumer and the supplier based on various fluxuations in the market.
Macroeconomics (from the Greek prefix macro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behaviour, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.[1][2] With microeconomics, macroeconomics is one of the two most general fields in economics.
Macroeconomics is the branch of economics that examines the economic behavior of aggregates income, employment, output, and so on on a national scale.
The movie begins with a calm ocean, disrupted by an unknown force and creating a tsunami to end the once great city called Atlantis. The Atlanteans were panicking as a giant barrier shielded the city. The scene shows young child Kidagakash tearing after watching her mother ascending to the crystal and