eco/365 week 2 individual

Supply and demand is constantly changing for different products and services for a number of reasons. The good I chose to write about is the laptop I purchased to be used for school. The following are factors that could cause possible changes in the supply and demand of laptops on the market. When looking at the supply aspect of a laptop from manufacturers’ one factor that could change the supplied amount would be the cost to produce the item. If the cost to produce a laptop was to increase too much the supply may go down. Another factor would be the demand of the laptop. As long as there is demand for the laptop than the supply should be available however if the demand was to drop than the supply of the laptop could drop as well.

I have thoroughly enjoyed reading this week chapters on demand, supplies, and the equilibrium markets. The illustrations are clear, concise, and easily understood. This week topics have a lot of relations to our businesses. I

For a firm to shut down in the short run, the average variable cost can avoid paying by shutting down exceed the price it would get for selling the good (Colander, pg. 328). At a certain point to continue producing and selling goods would get higher than the fixed costs of not producing the goods or service. As the text mentions, automakers will continue to produce at a loss because the labor is a fixed cost due to union agreements. These agreements state that the workers will get paid if they are working or not working. In this instance the automaker cannot afford to shut down even for the short run. In recent times, several automakers have decided to shut down for the short run due to manufacturing defects to their products. Toyota has

Week 2 has been quite overwhelming. I did not have enough time to do my reading assignments over the weekend. I normally utilize Saturday and Sunday to do my research work and reading. Unfortunately, on Saturday morning, I attended a meeting that took half of the day, when I returned home my husband informed that he had invited our friends over for dinner as they will be leaving for Melbourne the following day. My house was a mess as it hadn't been cleaned the previous weekend when we were away. Thus, my whole Saturday was wasted on doing the trivial aspects of life. I missed church on Sunday so that I can catch up on my work and everything went well thereafter. I managed to complete my tasks. I found that a lot of students were divided when it came answering the forum discussion assignment on what would happen to bond prices if terrorism ended and countries adopted free trade. What's you take on this one?

The first step that I would take is to act immediately. I will report the event to all necessary parties including my insurance broker, insurance companies, professionals to assess damage and provide estimates for repair, legal counsel, business accountant. I will try and obtain all the copies of paperwork that is completed.

This creates a budget deficit because there is more being spent than what’s being brought it.

For example, If you are selling a product that is a normal good with a high rate of competition in the market, raising the price could have negative effects on overall profits because users will simply find another substitute somewhere. Charles stated that market separation may come into play when firms realize there are differing elasticity curves for different consumers of the same product. Firms can maximize profits by evaluating consumer segments within a single market. If the firm notices different demand elasticity for different segments it may opt to engage in price discrimination to maximize profits. Charles gave Microsoft Office as an example; the same software is offered to students, casual users and business users at different price

Entering this class, I was a little concerned as to whether or not I could keep up. I have previously had economics classes, but it has been over 15 years. However, what I found was that as I got into the reading, many of the concepts and procedures came back to me. I recently took graduate level accounting and statistics classes, and that is helping me understand much more in this class. However, it has also caused me to go a little overboard and work problems further through than necessary. The two most important new things that I have learned are price elasticity of demand and relevant costs.

It is clear that the economic policy in general and the monetary policy in particular should be concerned with the overall economic well-being. In this paper we propose to discuss this core topic. We will provide an overall picture of the functioning mechanism. In this regard, the discussion will develop around the governmental policies and of FED, and their scope on the free market. The argumentation will refer to the notion of common good and will try to establish if the measures applied by FED have fulfilled their intended purpose given the recent international financial crises of 2007.

In the supply and demand simulation a neighborhood called Atlantis is given for the setting. Atlantis is a small city with open spaces, low population, and a low crime rate. There are plenty of sidewalks and street systems for easy access to the highway. The housing in Atlantis is detached homes and apartments. The supply and demand simulation consists of microeconomics and macroeconomics. The simulation presents shifts in the demand and supply curve, equilibrium, price, and quantity.

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 so high? supply and demand. This paper will speak about a simulation found on University of Phoenix student website, simulation named “Applying Supply and Demand Concepts” This paper will speak about macroeconomics and microeconomics

When the rental prices going up, which are fixed costs of production, then the profits will be reduced and the business owner will think whether their business is still profitable. The business owners will calculate the total revenue and total cost. If the total revenue it would get less than its total costs, the business owners will decide to exit the market. On the other hand, for the big companies, it is profitable to enter the market since the new community, which is the rich people, is their primary profit target

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 were emphasized in the simulation, application of the supply and demand concepts at the author’s workplace, how price elasticity of demand affects the decision-making of the consumer and to the organization, and a summary of the results of the

The economy is run by the concept of supply and demand. The simulation provided a practical learning experience that brings together the concept of micro and macro economics. I will try to summarize my findings and the inner workings of the concept of supply and demand that the simulation offered.

Abstract The main purpose of this report is to make references to significant microeconomic models, in order to explain the supply, Demand, Market equilibrium, price discrimination, and Opportunity rate as well as making references to important macroeconomic aims which can be described with some examples such as growth, Inflation, Unemployment, GDP, exchange rates and many more, this two business economic topics are very relevant in today’s market as they represent the real-world meaning of the business area. This report will analyze both parties and evaluate any issues happening to date.