Microeconomics and two macroeconomics principles

Assignment Help Finance Basics

Reference no: EM13820258

Write a 1,050- to 1,400-word paper summarizing the content of the simulation and address the following:

Identify two microeconomics and two macroeconomics principles or concepts from the simulation.
Explain why you have categorized these selected principles or concepts as microeconomics or macroeconomics.
Identify at least one shift of the supply curve and one shift of the demand curve in the simulation.
Explain what causes the shifts, and how each shift affects the price, quantity, and decision making.

Includeresponses to the following:

How might 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 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?
How does the price elasticity of demand affect a consumer's purchasing and the firm's pricing strategy as it relates to the simulation?

Cite a minimum of 3 peer reviewed sources.

Reference no: EM13820258

Questions Cloud

Describe the role of the cio in business today : Describe the role of the CIO in business today. What is the Strategic Alignment Maturity model and why is it important? Describe the process for managing emerging technologies. Elaborate on each step in the process using current day examples. Expla..

Business research methodology : What is naturalistic observation? How does a researcher collect data when conducting naturalistic observation research? Why are the data in naturalistic observation research primarily qualitative?

Identify the various uses for http and https : Identify the various uses for HTTP and HTTPS

What is happening during the stage from a developmental : Explain what is happening during this stage from a developmental perspective. e.g. what are the cognitive, physical changes they are experiencing and why are they experiencing these changes.

Microeconomics and two macroeconomics principles : Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these selected principles or concepts as microeconomics or macroeconomics.

Elastic and inelastic : Elastic and Inelastic

Explain management for quality and performance excellence : Explain Management for quality and performance excellence. The quality methodologies or practices that the company uses or plans to use to align performance excellence with its business objectives.

Vulnerability assessment matrix : Vulnerability Assessment Matrix

Based on the value of land and buildings : What tax is based on the value of land and buildings; and, is a major source of revenue for local governments?

User Account

All Pages