Supply and Demand Simulation
The Art :Bulletin, Ise Shrine and a Modernist Construction of Japanese
May 16, 2020The Quest for Social Harmony
May 17, 2020Supply and Demand Simulation
Topic: Supply and Demand Simulation
Complete the Supply and Demand Simulation located on the student website.
Write 700 825-word paper
Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic.
¢ Identify at least one shift of the supply curve and one shift of the demand curve in the simulation. What causes the shifts?
¢ For each shift, analyze how it would affect the equilibrium price, quantity, and decision making.
¢ How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar?
¢ How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?
¢ How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?
¢ Relating to the simulation, explain how the price elasticity of demand affects a consumer’s purchasing and the firm’s pricing strategy.
Format your paper consistent with APA guidelines.
CRAZY OFFER!!! ASSIGNMENTS COMPLETED FOR FREE!!
