Supply and Demand

Supply and Demand Simulation Analysis The entire world is restore about with making decisions. Many individuals make those decisions according to his or her own(prenominal) self-interest. Other decisions atomic number 18 made based on the surpass interest of a certain company or business. The University of phoenix set up a simulation to aid in the education of certain aspects concerning affix and posit to familiarize students with the concepts of supply and gather up in todays economy. This paper leave alone first identify the factors that cause the changes in supply and submit in the simulation. Next, it leave explain how shifts in supply and demand affect the decisions I made in the simulation. The paper result also list four key point, which are emphasized. then I will attempt to apply the concepts of supply and demand from the simulation to my job. Subsequently, this paper will try to determine how outlay elasticity of demand affects the decision-making of the consumer and of the organization. Lastly, a summary of the results from the simulation will be established. The simulation focuses on the supply and demand of a fictional property management degraded called GoodLife Management. GoodLife Management is a business, which is located in the fictitious city of Atlantis.

The companys main goal is to rent out two-bedroom apartments on a month-to-month temporary lease. According to the facts in the simulation GoodLife is the only firm in Atlantis which rents out apartments, making it a monopoly. Its chief responsibilities are to receive 30-day notices for vacancies, establish new rental rates for the vacancies and to set advertising schedules. The simulation presented functioning examples of a number of factors, which caused changes in the supply and demand of the two-bedroom apartments over the course of nine years. These factors include the direction of GoodLifes management, Atlantiss changes in population and potentiality renters preferences and execution of price ceilings. These factors caused... If you want to target a full essay, order it on our website: Ordercustompaper.com

Ordercustompaper.com is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!