How may you apply what you learned about supply and demand

Reference no: EM13792680

Complete the Supply and Demand Simulation located on the student website.

Write 700 - 1,050-word paper of no more than summarizing the content. Address the following:

- 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.

Reference no: EM13792680

Questions Cloud

How does this change the value generated by the market : How does change the value generated by the market - Why do you say this? Where does this appear in your graph?

Assignment on annotated note taking : Annotated Note Taking

Describing the beliefs and ideals : Complete the matrix by describing the beliefs and ideals of each of the parties. Generate a list of at least 10 of President Jefferson's decisions and actions. Decide which party's ideals are most aligned with the decision or action, and provide a..

What kind of facts would you want to know about situation : What kind of facts would you want to know about the situation? What would be your priority concerns if you were to be terminated? If you were a survivor?

How may you apply what you learned about 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.

What do strategic managers call a flow of information : What do strategic managers call a flow of information through interrelated stages of analysis toward the achievement of an aim

Two-stage dividend discount model : SHOW your calculations and LIST your value (price per share) estimate for KO using the Two-Stage DDM.

Differentiating between market structures in kudler : Differentiating Between Market Structures in Kudler - Differentiating Between Market Structures in an Organization of Your Choice

What is his main theme in the letter : What is his main theme in the letter? What is his determination about the results of the war in terms of commerce?

User Account

All Pages