"Eco 365 Supply And Demand Simulation" Essays and Research Papers

  • Eco 365 Supply And Demand Simulation

    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...

    Alfred Marshall, Demand curve, Elasticity 851  Words | 3  Pages

  • Eco/365 Supply and Demand

    Supply and Demand ECO/365 Supply and Demand 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. Economics is defined as “the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social...

    Alfred Marshall, Consumer theory, Economics 874  Words | 3  Pages

  • Supply & Demand Paper Eco/365

    Supply and Demand Simulation University of Phoenix May 9, 2013 ECO/365 - Principles of Microeconomics The Supply and Demand Simulation consist of microeconomics and macroeconomics concepts. The concepts are explained and how they apply to the principle of microeconomics and macroeconomics. The simulations presents shifts in the supply and demand curve, the rationale for the shift is given. Each shift is analyzed showing the effects of the equilibrium price, quantity, and decision making...

    Demand curve, Economic equilibrium, Elasticity 1097  Words | 3  Pages

  • Eco 354 Supply and Demand Simulation

    Supply and Demand Simulation ECO/365 July 24, 2013 Supply and Demand Simulation The Supply and Demand Simulation was very insightful. I related to it since I am in property management although I did have some difficulty with the reasoning. The simulation was designed to help us understand demand and supply as well as the effect of a price ceiling on a specific quantity as well as the quantity supplied. According to our textbook, Microeconomics is the study of individual choice and how...

    Economics, Elasticity, Inverse demand function 1032  Words | 3  Pages

  • Eco 365 Supply & Demand Paper

    Supply & Demand Simulation Erica Bradford ECO/365 June 19, 2013 Jeremy Alessandro Supply & Demand Simulation 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...

    Apartment, Elasticity, Microeconomics 1081  Words | 3  Pages

  • Analyzing Supply of Demand Simulation

    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...

    Alfred Marshall, Consumer theory, Economic equilibrium 1030  Words | 3  Pages

  • Supply and Demand Simulation

    Running head: SIMULATION Week 2: Supply and Demand Simulation Brian Richards ECO/365 December 3, 2012 Ashraf Zaki In the simulation of the city of Atlantis, it demonstrated how supply and demand can shift due to adjustments with prices. The simulation focused on two-bedroom rental properties. We received the expertise of Hal Morgan and Susan Hearst from Good Life Property Management to determine rental prices and how to balance out the supply and demand. Through the...

    Economic equilibrium, Economics, Elasticity 972  Words | 3  Pages

  • Supply and Demand Simulation

    Supply and Demand Simulation ECO/365 Supply and Demand Simulation 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...

    Alfred Marshall, Consumer theory, Demand curve 1020  Words | 3  Pages

  • Supply and Demand Simulation/ Goodlife

    Supply and Demand Simulation ECO 365 March 28, 2011 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...

    Demand curve, Economic equilibrium, Foundations of Economic Analysis 1018  Words | 4  Pages

  • Supply and Demand Simulation

      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...

    Economics, Elasticity, Inflation 977  Words | 3  Pages

  • Supply and Demand Simulation

    Supply and Demand Simulation Michael Roach ECO/365 March 17, 2014 Tim Randolph Supply and Demand Simulation This simulation of “Applying Supply and Demand Concepts” gave me a true understanding of how things work in the market place. We go through life dealing with these situations, but not knowing how they really affect us and the world around us. I had some ideas of how these principles worked, but was I taken for a loop when I tried to balance out the equations. This is what I learned...

    Alfred Marshall, Economics, Elasticity 1015  Words | 3  Pages

  • supply and demand simulation

    P.1 Supply and Demand Simulation Kandice Porter ECO / 365 10 / 13 / 2014 Ronald Merchant ...

    Apartment, Consumer theory, Demand curve 1046  Words | 2  Pages

  • Supply and Demand Simulation Paper

    Supply and Demand Simulation Paper ECO/365 Week 2 Individual Assignment February 25, 2013 Supply and Demand The analysis will identify two microeconomics and two macroeconomics principles or concepts from the simulation, and explain why each principle or concept is in the category of macroeconomics or microeconomics. The analysis will identify at least one shift of the supply curve, and one shift of the demand curve from the simulation and what causes the shifts. The analysis will show...

    Consumer theory, Economics, Elasticity 882  Words | 3  Pages

  • Supply and Demand Simulation

    1 Supply and Demand Simulation Connie F. Dents ECO/365 November 6, 2012 Tulin Koray 2 Supply and Demand Simulation The Supply and Demand Simulation is about the rental of two- bedroom apartments that is managed by Goolife Management Company. The Goodlife Management Company is in the City of Atlantis. The Simulation will show the different scenarios in how the shift in demand and supply curve, demand and supply shift, price ceilings, and the equilibrium changes...

    Apartment, Demand curve, Economic equilibrium 765  Words | 3  Pages

  • Supply and Demand Simulation eco365

    University of Phoenix ECO/365 Supply and Demand Simulation Principles of Microeconomics 9/16/2013 The simulation shows a number of changes that happen to the Atlantis population, as well as to the supply and demand of the apartment housing. Throughout the simulation there are two microeconomic principles being displayed as well as one macroeconomic. The equilibrium price is fluctuated due to shifts that take place within the supply curve and also the demand curve. Just like...

    Demand curve, Economic equilibrium, Elasticity 1085  Words | 3  Pages

  • Supply and Demand Simulation

     Supply and Demand Simulation ECO/365 August 12, 2013 Supply and Demand Simulation In this paper I will discuss and identify two microeconomics and two macroeconomics principles or concepts from the simulation. I will explain why I have categorized these principles or concepts as macroeconomic or microeconomic. I will also identify at least one shift of the supply curve and one shift of the demand curve in the simulation, and what causes the shifts. I will discuss how each shift...

    Demand curve, Economic surplus, Economics 1129  Words | 4  Pages

  • Supply and Demand Simulation

    Supply and Demand Simulation Debbie Adams, Danita Booth, Annie Edwards and Justin P Levick ECO/365 July 15, 2013 Robert Emrich Supply and Demand Simulation As seen in the simulation, supply and demand can have a significant effect on price and quantity. In most cases, if the demand for a product or service goes up, then the price typically goes up. However, if the demand for a product or service goes down, then the price will typically do down in order for the seller to move the product...

    Apartment, Economic equilibrium, Elasticity 1652  Words | 5  Pages

  • Supply and Demand Simulation Paper

    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...

    Alfred Marshall, Consumer theory, Elasticity 1124  Words | 4  Pages

  • Microeconomics and the Laws of Supply and Demand Simulation

    Microeconomics and the Laws of Supply and Demand Simulation ECO/365 Spyridon Patton Based on Webpedia (2014), microeconomics is the interaction and behavior of individual components within an economic system. About the flip side, yet, he claims that macroeconomics examines the market as an aggregate. While microeconomics has a slim viewpoint of the market, macroeconomics examines the market from a wide standpoint. In the University of Phoenix simulation (n.d), for instance, Atlantis...

    Alfred Marshall, Consumer theory, Elasticity 998  Words | 5  Pages

  • Supply and Demand

     Supply and Demand Simulation Catrina McLaughlin ECO/365 November 3, 2013 Dennis McGuckian Supply and Demand Simulation In the ECO/365 course you are taken through a simulation, where you are asked to manage the supply and demand of two-bedroom apartments. The apartments are located in a city called Atlantis, which seems to be a very attractive place to live. The stimulation is used to provide the learner with real-life situation of how the pricing of a good or service (price...

    Apartment, Cost, Economics 706  Words | 3  Pages

  • Applying Supply and Demand Simulation Paper

    Applying Supply and Demand Simulation ECO/365 University of Phoenix December 08, 2008 What causes the changes in supply and demand in the simulation? If the availability of the apartments were good and in a preferred location, this could have a direct effect on the increase in demand. When consumers look for a place...

    Apartment, Landlord, Preference 793  Words | 3  Pages

  • supply and demand

     Supply and Demand Simulation ECO/365 Shyesta Kennedy The simulation of supply and demand for this assignment was using Atlantis apartment building rental showing a detailed analysis if how any changes to the rental availability can and will affect the manager decision on price and quality in the market. In this simulation you will see the analysis point out the effect of supply and demand and how it can and needs to reestablishment of...

    Austrian School, Economics, Elasticity 813  Words | 4  Pages

  • Supply and Demand Simulation

    Supply and Demand Simulation Summary University of Phoenix ECO360, Economics for Business I The Supply/Demand simulation involves acting as property manager for GoodLife Management in the fictional town of Atlantis. GoodLife Management manages seven apartment complexes in Atlantis. The property manager is expected to adjust the monthly rental rate of two-bed rental apartments and the quantity of apartments supplied based on the market trends. Factors that influence the supply and demand...

    Consumer theory, Demand curve, Economic equilibrium 1195  Words | 4  Pages

  • Supply and Demand Simulation

    Supply and Demand Simulation Timothy J. Vrabel Axia College University of Phoenix In the video, several principles and concepts of microeconomics and macroeconomics were simulated. In the simulated neighborhood of Atlantis, there are many amenities that customers demand. The simulation uses two bedroom apartments to teach the fundamentals of supply and demand. Several scenarios were used throughout the simulation to represent challenges with which management needed to contend. The scenarios...

    Alfred Marshall, Consumer theory, Elasticity 942  Words | 3  Pages

  • Supply and Demand Simulation

    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...

    Alfred Marshall, Consumer theory, Economic equilibrium 819  Words | 3  Pages

  • Supply and Demand Simulation - Paper

    The city of Atlantis is a small city with plenty of parks, sidewalks and minimum traffic. Housing consists mostly of detached homes and apartments. The following is a brief description of the simulation that takes a person thru supple & demand of two bedroom units. Having to determine the monthly rate of the two bedroom units or the quantity needed at the monthy rate. As property manager of Gold Life Management, there are seven complexes that need to be managed. As we are the only firm that rents...

    Apartment, Demand curve, Inverse demand function 1560  Words | 6  Pages

  • Basic Concepts: Supply and Demand Simulation

    Basic Concepts ECO/415 – Applied Economics in Business December 20, 2010 Basic Concepts: Supply and Demand Simulation Goodlife, a property management firm, located in Atlantis is responsible for the management of 2000 apartments. Their primary goal is to maintain equilibrium in the two-bedroom rental market. They are the only management firm operating in a monopoly market within Atlantis. The management team, consisting of Susan Hearst and Hal Morgan, is responsible for maintaining...

    Apartment, Consumer theory, Demand curve 1649  Words | 5  Pages

  • supply and demand simulation

    macroeconomics, takes a broader approach such as the nations’ economy or the GDP. Nevertheless, both micro- and macroeconomics provide fundamental tools when studying the economy. This paper will discuss the examples of the supply and demand curves as they were presented in the simulation. In addition, factors affecting these curves such as changes in population, government, employment, and trend all take part in shifting these curves causing pricing or rental rates to increase and decrease accordingly...

    Demand curve, Economic equilibrium, Economic surplus 1331  Words | 4  Pages

  • Microeconomics and the Laws of Supply and Demand

    Microeconomics and the Laws of Supply and Demand ECO/365 Principles of Microeconomics August 18, 2014 Sam Pirnazar Microeconomics and the Laws of Supply and Demand Abstract The objective of the laws and the supply and demand simulation is to apply the supply and demand concepts to provide a better understanding on how to use the curves in order to figure out the equilibrium in the market for leasing two bedroom apartments. The simulation will help determine the difference...

    Demand curve, Economic equilibrium, Economics 717  Words | 5  Pages

  • ECO 365 Principles Of Microeconomics Entire Course

    ECO 365 Principles Of Microeconomics Entire Course https://hwguiders.com/downloads/eco-365-principles-of-microeconomics-entire-course ECO 365 Principles Of Microeconomics Entire Course   This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. This undergraduate-level...

    Supply and demand 1177  Words | 6  Pages

  • Supply and Demand Simulation

    Supply and Demand Simulation The University of Phoenix online simulation entitled "Applying Supply and Demand Concepts" starts with the description of a fictional small town, Atlantis, and the rental market for two bedroom rental apartments. Below we will discuss the key points of supply and demand covered in the simulation, and by David Colander in the Book Economics, along with real world examples and results for the simulation. In this simulation the reader is a property manager for GoodLife...

    Business cycle, Economic equilibrium, Economics 870  Words | 3  Pages

  • supply and demand

     Supply and Demand Stimulation ECO/365 After I was finished with this exercise, where I experienced firsthand the supply and demand game, in which terms of microeconomics and macroeconomics were used to determine the different situations, such as the economy as whole in this small town called Atlantis, as well the increase of higher income jobs available for the town. It was very interesting to see the shifts in the supply and demand curves, when the rationale for the...

    Consumer theory, Demand curve, Elasticity 1218  Words | 4  Pages

  • ECO 365 Week 2

     Supply and Demand Simulation ECO/365 March 10, 2014 Ed Hartmann, D.B.A Supply and Demand Simulation Microeconomics and Macroeconomics In the simulation the supply and demand was affected due to the decreasing of the rent in order to lower the vacancy percentage and increase the revenue for the rental company. This is thought of as a temporary fix on a month to month lease basis and provides us with a good example of what microeconomics is. When a new company decided to move into town...

    Alfred Marshall, Elasticity, Inverse demand function 739  Words | 3  Pages

  • ECO 365 WK 2

     Microeconomics and the Laws of Supply and Demand Shenica Crosby ECO/365 November 10, 2014 REYNALDO CARATAO Microeconomics and the Laws of Supply and Demand 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. Supply and demand was affected by decreasing the rent to lower the vacancy percentage and maximize revenue for the company. This process is considered...

    Alfred Marshall, Economic equilibrium, Elasticity 874  Words | 5  Pages

  • Applying Supply and Demand Concepts

    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...

    Alfred Marshall, Consumer theory, Demand curve 1015  Words | 4  Pages

  • Supply and Demand Simulation

    According to Colander (2010), economics is the study of how human beings manage their wants and desires. Buyers based their wants and needs on marginal costs and marginal benefits. Sellers based their supply production on the consumer demand shift, and seller set their prices according to the demand change. That is just some of the basics of economics. There are two types of economic structure: macroeconomics and microeconomics. Colander (2010) defines microeconomics as “the study of how individual...

    Aggregate demand, Aggregate supply, Consumer theory 804  Words | 3  Pages

  • Microeconomics And The Laws Of Supply And Demand

    Microeconomics and the Laws of Supply and Demand Megan O’Brien ECO/365 1/19/2015 RIna Bills The simulation on supply and demand relates to the Goodlife Management Company which leases apartments to renters. As the property manager, I was asked to set rental prices in a variety of situations in order to meet the demands of the population in the area while attempting to maximize profits for my company. Microeconomic principles such as the law of demand, the law of supply, equilibrium, and price...

    Economics, Elasticity, Microeconomics 703  Words | 4  Pages

  • eco/365 week 2 individual

     Supply and Demand Simulation ECO 365 Supply and Demand Simulation The Supply and Demand simulation was reviewed on the student website demonstrated the concepts of the concepts of microeconomics and macroeconomics. The principles of microeconomics and macroeconomics were explained and applied throughout the simulation demonstrate the rationale for the shifts in the supply and demand curve. Each shift is analyzed showing the effects of the equilibrium...

    Demand curve, Economic equilibrium, Elasticity 1287  Words | 4  Pages

  • Microeconomics and the Law of Supply and Demand

    Microeconomics and the Law of Supply and Demand Thomas Smiley ECO 365 May 31st, 2015 Alexander Heil During the simulation of Goodlife Inc. I was able to see how the effects of a lower rent verses a higher rent had on the vacancy percentage. In our simulation the town of Atlantis had only one rental agency with apartments available. There were single family homes available too but the need for renting was with apartments. I got to see how the supply and demand worked with this rental...

    Apartment, Economic equilibrium, Inverse demand function 936  Words | 5  Pages

  • Microeconomics and the Laws of Supply and Demand

    Laws of Supply and Demand Eunitra Hargrove, Jerralie Orwig, Jorge Montoya, Maria Davis, Paige Dodd, Shawnette Green, Shaylene Lambson, Steven Woodward. ECO/365 4/27/2015 Franny Chan Microeconomics and Laws of Supply and Demand Introduction Two Microeconomics and Two Macroeconomics Principles Macroeconomics focuses on the entire economy while micro economics studies the individual characteristics and peoples within the economy. Both the fourth and seventh scenarios in the simulation were examples...

    Demand curve, Economics, Elasticity 663  Words | 5  Pages

  • Microeconomics and the Laws of Supply and Demand

     Microeconomics and the Laws of Supply and Demand Your NAME ECO/365 July 6, 2015 INSTRUCTOR NAME Microeconomics and the Laws of Supply and Demand The simulation showed how a shift in the supply curve or the demand curve can lead to significant changes to the economic standing of the business. When the demand curve shifts downward or to the left it showed a decrease in demand from renters thus yielding less apartments rented. This happened when the new company who moved into the area had...

    Demand curve, Economics, Elasticity 815  Words | 5  Pages

  • Supply and Demand Simulation: Project Atlantis

    Supply and demand simulation: Project Atlantis The supply and demand simulation was a simulation of GoodLife Management, a property management firm controlling all of the seven apartment complexes in the city of Atlantis. For the 9 year period in the simulation the housing market had many ups and downs because of businesses moving into the area bringing an increased amount of jobs, the change in consumer preferences and company expectations, and the policy changes induced from the government. ...

    Consumer theory, Economic equilibrium, Elasticity 1218  Words | 4  Pages

  • Eco/365 Supply and demand

    Working through the simulation in our week 2 studies was a focus on supply and demand and how it would relate to the housing market in the city of Atlantis. Working as a property manager of Goodlife Management, overseeing properties and making the right decisions in order to make sure that the apartments rent and at the appropriate costs with the new scenarios that were given were not easy. I personally had to revisit the site several times just to grasp the concepts and why my choices were not working...

    Economic surplus, Elasticity, Inverse demand function 772  Words | 2  Pages

  • Laws of Supply and Demand

     Laws of Supply and Demand Derrick Laron Gibson ECO/365 August 7, 2014 University of Phoenix Laws of Supply and Demand Your author has been given the responsibility of completing the demand and supply simulation and then discussing his thoughts on several questions presented before him. These questions deal heavily on microeconomics and macroeconomics with regards to managing approximately 3000 two bedroom apartments and their rentals. Your author will now address the questions...

    Apartment, Economic equilibrium, Economics 1290  Words | 9  Pages

  • ECO 365 Wek 2 Individual Assignment

    and the Laws of Supply and Demand ECO/365 Microeconomics and the Laws of Supply and Demand The economy is divided into two categories microeconomics and macroeconomics. Microeconomics refers to the study of individual’s behavior within the economy. It concentrates on factors that influence the individual’s economic choices based on economic forces. The study of individual’s behavior when it comes to supply and demand is an important element to microeconomics. The law of demand says that the quantity...

    Consumer theory, Economics, Elasticity 824  Words | 2  Pages

  • Eco 365 Supply and Demand

    Supply and Demand Supply and Demand Microeconomics vs. Macroeconomics The supply and demand simulation shows different aspects of economic structures. Although mostly focused on microeconomics, the simulation does show a small role of macroeconomics. The principles of microeconomics would apply to drop in rent prices to increase the supply being demanded. Another microeconomic principle shown in the simulation is the rise in demand when the cost of rent is lowered. Macroeconomics principles...

    Economics, Elasticity, Microeconomics 550  Words | 2  Pages

  • Supply and Demand of Rental Apartments

    Supply and Demand of Rental Apartments Simulation Veronica L. Powell University of Phoenix ECO / 365 Liliana Fargo November 10, 2009 Supply and Demand of Rental Apartments Simulation GoodLife Management is a management firm that manages seven apartment complexes in Atlantis. GoodLife is the only firm that rents apartments in Atlantis and has subsequently created a monopoly within the market. The closest substitutes are rental detached homes which are provided by Oakridge Builders...

    Demand curve, Economic equilibrium, Economic surplus 1054  Words | 4  Pages

  • Applying Supply and Demand Concepts Eco 415

    Applying supply and demand concepts The demand curve is downward sloping, and that quantity demanded increases as the price decreases that are as you move down the demand curve. GoodLife could increase the quantity demand of its rented apartments only by reducing the rental rate. The supply curve is upward sloping, and quantity supplied increase with an increase in price- that is, as you move up the supply curve. An increase in rental rate would cause GoodLife to lease out more apartments. Demand and...

    Consumer theory, Demand curve, Economic surplus 1130  Words | 3  Pages

  • Supply and Demand

    The laws of supply and demand are the fundamental concepts behind economics that assist in the understanding of microeconomics and macroeconomics. The simulation involves a hypothetical real estate company that must alter their prices, supply, and demand based on the different market situations of their region. GoodLife was forced to change their prices and quantity supplied based on several factors like changes in population, price ceiling, and low rental rates in neighboring towns in order to...

    Economic equilibrium, Economics, Elasticity 1039  Words | 3  Pages

  • Supply Demand

    Supply and Demand Simulation Supply and Demand Simulation The simulation for the supply and demand included management decisions involving two- bedroom rental apartments owned by GoodLife Management firm located in Atlantis. The property manager team job consisted of adjusting monthly rental rate for maximizing revenue based on quantity supplied apartments in the economy. Each scenario presented different economics factors, variables, and issues that required management decision as analyzed...

    Alfred Marshall, Consumer theory, Economic equilibrium 1212  Words | 4  Pages

  • Supply and Demand Simulation

     Supply and Demand Simulation Thomas Alejandro ECO/365 February 17, 2014 Mubarak Laminu Supply and Demand Simulation The supply and demand simulation is based on the management of rental apartments by GoodLife Management in the fictional town of Atlantis. 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...

    Alfred Marshall, Consumer theory, Economic surplus 527  Words | 5  Pages

  • ECO/365

     Current Market Conditions Paper ECO 365 University of Phoenix Introduction In a society that has seen such a drastic downturn in the economy, people are searching for the best possible bargains they can find. People across the United States are looking for ways to save money; thus, searching for stores that will provide them with everything they need at a lower cost. Companies all over the United States are fighting to stay competitive and are seeking...

    Competition, Cost, Elasticity 2046  Words | 10  Pages

  • supply and demand

     supply and demand 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. The microeconomic topics would be the demand and supply curve. The demand curve shows how consumers would react to prices. The supply curve shows how landlords would react to price by how much units will sell. The outside company coming in and the price cap would fall under macroeconomic...

    Alfred Marshall, Consumer theory, Economics 916  Words | 3  Pages

  • Supply and Demand Simulation

    Running head: SUPPLY AND DEMAND SIMULATION Supply and Demand Simulation University of Phoenix ECO 365 Supply and demand is considered a basic economic concept, as well as a vital part of a free market economy. In whereas supply is the amount of something, such as a product or service, demand is the amount of the product or service that buyers want to purchase. The relationship between supply and demand has a good deal of influence on the price of goods and services. In the scenario, a number...

    Capitalism, Economic equilibrium, Free market 669  Words | 2  Pages

  • Simulation Essay

    Laws of Supply and Demand: A Simulation D. Buress ECO/365 February 2, 2015 R. Caratao Microeconomics and the Laws of Supply and Demand: A Simulation The simulation this week was based on an apartment rental agency, GoodLife Management, in the 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...

    Apartment, Demand curve, Economic equilibrium 1086  Words | 6  Pages

  • ECO365 Week 2 Simulation

     Simulation ECO/365 Simulation The supply and demand factors are essential to the work of economics. The use of these demand curves help businesses to maximize profits and the supply curve depicts the best price for the most product. These statistics are shown on a graph, which changes according to the supply and demand in a particular market (Colander, 2010). This simulation is an example of Good life property apartment rental supply and demand. This paper will discuss two microeconomics...

    Consumer theory, Demand curve, Elasticity 729  Words | 3  Pages

  • Eco 365

    information regarding the supply of products and services, and the demand for those products and services. In review of recent consumption patterns, the coffee market has experienced many changes according to an article written by Daniel Harrington. The article was titled “Coffee Prices 2011-2012 – Coffee Price Increase – Coffee Shortage”, which detailed the various aspects that are altering the standard consumption patterns in the economy for coffee. In recent years, the demand, or desire, for coffee...

    Consumer theory, Economy, Elasticity 792  Words | 3  Pages

  • ECO 365 Final Exam

    ECO 365 Final Exam IF You Want To Purcahse A+ Work then Click The Link Below For Instant Down Load http://www.acehomework.net/?download=eco-365-final-exam IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM 1) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in A. microeconomic research B. macroeconomic research C. theoretical research, because there is no data on these variables D. empirical research,...

    Economics 1370  Words | 4  Pages

  • ECO 365 Final Exam

    ECO 365 Final Exam IF You Want To Purcahse A+ Work then Click The Link Below For Instant Down Load http://www.acehomework.net/?download=eco-365-final-exam IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM 1) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in A. microeconomic research B. macroeconomic research C. theoretical research, because there is no data on these variables D. empirical research,...

    Economics 1370  Words | 4  Pages

  • ECO 365 Final Exam

    ECO 365 Final Exam IF You Want To Purcahse A+ Work then Click The Link Below For Instant Down Load http://www.hwprofile.com/?download=eco-365-final-exam IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM 1) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in A. microeconomic research B. macroeconomic research C. theoretical research, because there is no data on these variables D. empirical research, because...

    Economics 1370  Words | 4  Pages

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