supply and demand

Topics: Supply and demand, Elasticity, Pricing Pages: 4 (813 words) Published: October 19, 2014

Supply and Demand Simulation
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 price equilibrium. Comparing the real world scenario to any supply and demand it will reveal main details of microeconomics and macroeconomics equilibrium, supply and demand shifts, also it will show the effects of elasticity in business pricing strategies. Microeconomics

There were a few microeconomics in the simulation. What microeconomics analyzes individual firm’s choices just as they relate to the whole economy basically influenced by any economics forces such as all the household buying decision (Colander, 2010). Now in the scenario where 2,500 apartments units are desiring to have a certain amount for each unit for rent to make it full capacity, the price consumers are even willing to pay the consideration cost of the apartment cost. The consideration shows just how consumers make decisions that will contribute to supply and demand which will illustrates a microeconomic concept. In some cases there are some company that would look at certain ways to increase their production so that they can decrease their prices compared to their competitors in a way this could help adjust the equilibrium prices. Allowing the company to pass price saving to any consumers. Macroeconomics

Macroeconomics looks at the aggregate that needs to be determined how breaking down individual components influences the economy which considering inflation, unemployment, business cycles, and growth (Colander, 2010). Macroeconomics is mostly used when the economy changes such as with...

References: Colander, D.C. (2010). Economics (8th ed.) New York: McGraw –Hill
University of Phoenix – Supply and Demand simulation
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Supply and Demand
  • Supply and Demand Simulation Essay
  • Supply and Demand Simulation Essay
  • Laws of Supply and Demand Essay
  • Supply and Demand Simulation Essay
  • Eco 354 Supply and Demand Simulation Essay
  • Supply & Demand Paper Eco/365
  • Essay on supply and demand

Become a StudyMode Member

Sign Up - It's Free