Supply And Demand Simulation Analysis

Supply and Demand Simulation In the University of Phoenix simulator (2003), learners are taken through the Supply and demand of two-bedroom flats in a town known as Atlantis. The simulator itself is used as a device to learn about the supply and demand shapes as well as stability. Other key learning points are the aspects that impact supply and demand, the impact that a cost roof has on the amount required and the amount provided. Throughout the simulator, learners figure out the lease rates or how many flats are leased out for a given month. A microeconomic idea that separated itself at the beginning of the simulator was the use of the phrase “monopoly”. The simulated control company has a monopoly in the lease area within Atlantis.
I consider this to be a microeconomic idea because each market or area has its own standard for amount required which definitely impacts how much is provided. An example of this is that of unique automobiles. There are a small number of these automobiles in need which results in the producers of these automobiles to develop only a restricted amount. A macroeconomic idea that revealed through in the simulator was that for any product, more amounts are required at a lower cost, other things staying continuous. To apply that to a microeconomic range using the simulator as an example, when the lease amount was decreased, more individuals were willing to move in.
The changes in supply and demand in the simulator are caused by different factors throughout the simulator. The causes included changes in vacancy prices, low lease prices in neighboring towns, imbalances between amount demanded and amount provided at current lease prices, changes in population, personal incomes, affordability of apartments, and cost
The provision, or "supply," of solutions or products is a key consideration in identifying the price at which those solutions or products can be obtained. For example, a landscape designs organization with little competition that operates in an area of popular for such solutions will in all likelihood be able to control a heavy price than will a business operating in a highly competitive environment. But accessibility is only one-half of the formula that decides costs components in the market. The other 50 percent is "demand." An organization may be able to produce huge quantities of an item at low price, but if there is little or no need for that item in the market, the organization will be forced to sell units at a very low price. On the other hand, if the industry shows responsive to the item that is being sold, the organization can identify a greater unit price. "Supply" and "demand," then, are closely connected economic concepts; indeed, the law of supply and demand is often mentioned as among the most essential in all of business