This website uses cookies to ensure you have the best experience. Learn more

Econ/365 Supply And Demand Analysis

740 words - 3 pages

Supply and Demand Simulation
To identifywhich portions of the microeconomicsand macroeconomics principles are which in this simulationwe have to understand the difference between the two economical concepts first. Microeconomics is the study of the goods and services of the world and how they are affected by ways of the world. For example gas prices go up during the summer time for a reason other than oil companies wanting to make record high profits. The gas prices go up during the summer because we tend to travel more in the summer than we do during the winter. Families go on vacation more the weather is nicer nationwide, therefore the amount of outside events has increased drawing us ...view middle of the document...

Christmas time shopping through the years has taught us this, companies every year launch new items around Thanksgiving in hopes to draw us into the stores to buy what we are afraid others will have and we won’t. For example the IPhone, few things have changed on this technology other than the operating system, it still dials a number and we can still surf the web with it. However there have been a total of 4 different IPhones over the last 3 years, and typically there are less available than there are demanded, which creates the price to be set at an unreasonable amount.
The macroeconomics of the simulation is just as easy to point out as the microeconomics, because these are directly related to the big picture of economics. The government setting a ceiling on the rent we could charge on our two bedroom apartments not only is an illegal way to govern but it is also macroeconomics at its finest. As well, we learned about an increase in the way the residents of Atlantis were transitioning into detached homes versus paying rent for a two bedroom apartment. ...

Other Papers Like Econ/365 Supply and Demand Analysis

Supply and Demand Essay

748 words - 3 pages Supply and Demand Simulation ECO/365 Rex Draughn November 19, 2013 Microeconomics is “the analysis of the decisions made by individuals and groups, the factors that affect those decisions, and

Supply and Demand Simulation Essay

564 words - 3 pages Supply and Demand Simulation Andrea Nelson ECO/365 May 12. 2014 Vilma Vallillee Supply and demand simulation From the University of Phoenix supply and demand simulation I identified a few microeconomic and macroeconomic principles. Monopoly and Maximizing revenue are two microeconomic concepts. Colander (2010) explains that microeconomics is “the study of individual choice, and how that choice is influenced by economic factors (p. 15

Supply And Demand

965 words - 4 pages oligopoly in that there are no decisions made to affect the competition. In this type of market system, it is only necessary for a business to be able to market effectively. Saying that, the term ‘supply and demand’ may not be said but it is used in our everyday life. Many use it for another source of income. But we now know the true meaning and true art behind it. Reference:

Supply and Demand

731 words - 3 pages Supply and Demand Lisa Krezman ECO/365 October 21, 2013 Ramaling Iyer Supply and Demand Atlantis a small city with a distinguished atmosphere that has paternal for grow. A company Goodlife is looking at the effects of supply and demand on two- bedroom apartment rental. Goodlife is a property management company that manages seven apartment complexes with two-bedroom unit for rent in Atlantis. Currently, Goodlife who has monopolized the

Supply and Demand

1013 words - 5 pages "Microeconomics Law of Supply and Demand" ECO 365 July 6, 2015 Michael Blakley "Microeconomics Law of Supply and Demand" The simulation of “The Laws of Supply and Demand” provided a wealth of information about how crucial micro and macroeconomic is to the economy. Green Life Apartments in Atlantis city depicted the impact of various economic factors; in which it was apparent that micro and macroeconomic played a role in this scenario. In

Supply And Demand Simulation

693 words - 3 pages Supply and Demand Simulation ECO/365 – Microeconomics Atlantis is a great town to live in. There is especially a great opportunity in the rental real estate market and only one company to supply rental apartments. The key is to apply the laws of supply and demand to suit the needs of the business to be the most profitable. Two Microeconomic and Macroeconomic Principles or Concepts Scenarios one and three are

Supply and Demand Simulation

1745 words - 7 pages Principles of Microeconomics ECO/365 December 17, 2015 Robert Dratwa In this simulation several scenario were presented. It was the student’s responsibility to use the information learned from assigned reading material to apply the learned concepts to make the correct decisions. The housing market in Atlantis comprises of both detached homes and apartments. The simulation explains the supply and demand of 2 bedroom rental apartments in

Supply and Demand - 1382 words

1382 words - 6 pages Supply and Demand LaShawn D. Watts Axia College April 18, 2010 The good that I had experience with is purchasing a new car. First, in my Supply and Demand Paper. I will explain factors that could cause possible changes in supply and demand with purchasing a new car. Second, I will determine two substitute that there may be for purchasing a new car. Third, I will determine two complements there may be for

Supply and Demand Paper

1615 words - 7 pages that the companies are still willing to spend money on research and development and can still supply the same quantity of goods without any added cost. Conclusion Based on the above analysis, we can conclude that the market neither under-provides nor over-provides goods according to our Supply-and-demand model. Ultimately, the market provides the right amount of goods because it provides them based on people’s own voluntary choices. If some

Supply And Demand

308 words - 2 pages The GoodLife Management supply and demand simulation is based on the management of 2500 two-bedroom condominium apartments in a fictitious town named Atlantis. According to the simulation they are the only management firm in Atlantis and have a monopoly in the market. The simulation shows the issues the management deals with and gives the opportunity to see how the right or wrong decisions can affect the outcome of those decisions. What causes

Supply And Demand

345 words - 2 pages Assignment #2: Supply and Demand Knowledge and Understanding (/4) 1) Explain in your own words the concepts of supply and demand. Communication (/5) 2) Our school cafeteria sells a very limited amount of healthy foods such as low fat wraps, fresh fruit and high fibre breads. Write a proper paragraph that explains how the forces of supply and demand interact to produce the right amount of goods (food) at the right price – the equilibrium

Related Essays

Passengers In Air, Supply And Demand Analysis

1810 words - 8 pages MODULE TITLE: Microeconomics, Introductory PROGRAMME: BA in BE TITLE OF ESSAY: Passengers in air, supply and demand analysis Air transportation is very valued type of transport by people, especially because it is time-saving, when you are travelling to countries, which are long-distance from each other, and mostly, it is the only way to get an access to geographically isolated areas. Moreover, air transportation enables the access

Demand And Supply Simulation Essay

1105 words - 5 pages Supply and Demand Simulation Nora Chaparro ECO/365 April 28, 2014 Frank Vigil Supply and Demand Simulation According to Adams (2002), microeconomics is the interaction and behavior of individual units in an economy. On the other hand, however, he says that macroeconomics looks at the economy as an aggregate. While microeconomics has a narrow view of the economy, macroeconomics looks at the economy from a broad perspective. In the

Supply And Demand Essay 925 Words

925 words - 4 pages Running head: SUPPLY AND DEMAND SIMULATION Supply and Demand Simulation University of Phoenix ECO 365 Introduction A number of factors, including price increases or decreases, cause changes in supply and demand. An incremental decrease in the rental price led to a huge increase in the demand for houses. Similarly, an increase in the rental price of two roomed apartments caused a decrease in the demand of houses by a significant margin

Supply And Demand Simulation Essay

923 words - 4 pages Supply and Demand Simulation ECO/365 November 11, 2013 Supply and Demand Simulation Microeconomic and Macro Principles As per the simulation, the two major principles of microeconomics are demand and supply. The simulation focused majorly on the demand and supply of rental properties. The simulation clearly states that the macroeconomic factors are changes in the population trend. One of the factors that would directly influence these