Supply and Demand Simulation Paper - 1130 Words

Supply and Demand Simulation Paper Principles of Microeconomics 365 Matthew J. Angner June 1, 2010 University of Phoenix Online Introduction The supply and demand simulation was based on the management of rental apartments by GoodLife Management. The apartments are in a fictitious town called Atlantis. Topics that will be reviewed in this paper include changes in supply and demand, how shifts in supply and demand affects decision-making, key points from the reading assignments that were emphasized in the simulation, application of the supply and demand concepts at the author’s workplace, how price elasticity of demand affects the decision-making of the consumer and to the organization, and a summary of the results of the†¦show more content†¦109). The limit is usually below the equilibrium price. Price ceilings can cause issues in the equilibrium between supply and demand. If the price for the apartments were at the ceiling price, and the demand for the apartments increase, the supply would then begin to decrease. The simulation showed that this scenario escalated and the quantity demanded exceeded the quantity available and a shortage will continue. Application of Supply and Demand Concepts The writer has a career as a Supplier Development Engineer in the Automotive Industry. The products produced include interior and exterior door handles and exterior mirrors. Although there are other automotive supplier’s who produce the same products, generally there are only a handful of these suppliers. Therefore, understanding the market for the products produced affects production on a supply and demand level. Changes in the economy in 2009 affected the production levels of our products. Vehicles were not selling, especially the larger SUV’s and truck platforms. Due to the decrease in demand, it created a surplus in the quantity of product on-hand. What did not occur, however, is a change in the price of the products. The product prices remained constant. What did change was the number of employees, which was reduced by 25% as well as a reduction in salaries for all employees. These reductions compensated for the p ricing of the products not changing. Price Elasticity of Demand â€Å"Price elasticityShow MoreRelatedSupply and Demand Simulation Paper886 Words   |  4 PagesSupply and Demand Simulation Paper ECO/365 Week 2 Individual Assignment February 25, 2013 Supply and Demand The analysis will identify two microeconomics and two macroeconomics principles or concepts from the simulation, and explain why each principle or concept is in the category of macroeconomics or microeconomics. The analysis will identify at least one shift of the supply curve, and one shift of the demand curve from the simulation and what causes the shifts. The analysis will showRead MoreEco365 Supply and Demand Simulation Paper761 Words   |  4 PagesSupply and Demand Simulation ECO/365 Supply and Demand Simulation In the University of Phoenix simulation (2003), students are taken through the supply and demand of two-bedroom apartments in a city called Atlantis. The simulation itself is used as a tool to learn about the demand and supply curves as well as equilibrium. Other key learning points are the factors that affect supply and demand, the effect that a price ceiling has on the quantity demanded and the quantity supplied. ThroughoutRead MoreAnalyzing Supply of Demand Simulation1042 Words   |  5 PagesAnalyzing Supply of Demand Simulation ECO/365 January 31, 2010 Analyzing Supply of Demand Simulation Supply and demand is a significant element of business procedures thus this paper will evaluate how supply and demand affects a business via a simulation provided by the University of Phoenix. In this paper, I will talk about the reasons for changes that occur in supply and demand. I will talk about how shifts in supply and demand influence the organization’s decision making processRead MoreSupply and Demand Simulation983 Words   |  4 Pages   ECO365 Supply and Demand Simulation Student Name ECO/365 – Principles of Microeconomics Instructor Name Date Introduction Supply and Demand is a phrase that every one hears in one way or another, Supply and demand phrase according to Colander, (2010) is the most used phrase by economist and the reason is because the phrase provides a good â€Å"off-the-cuff† answer for many question that have to do with economy. Example why are interest rates to Low? Because supply and demand. Why is GasolineRead MoreEco 365 Supply and Demand Simulation Essay855 Words   |  4 PagesSupply and Demand Simulation ECO/365 November 26, 2012 The purpose of this paper is to discuss the Supply and Demand simulation from the student website. The idea is to identify two microeconomic and two macroeconomic principles present in the simulation and to explain why these principles are categorized as macro or microeconomic. The paper will also determine one shift of the supply curve and one shift of the demand curve from the simulation, as well as why theseRead MoreSupply and Demand Simulation819 Words   |  4 PagesSupply and Demand Simulation A simulation was conducted to understand supply and demand when renting out apartment homes. This paper will briefly explain two microeconomics and two macroeconomics principles, it will include one shift of the supply curve and demand curve in the simulation. For each of the shifts the affect of the equilibrium price, quantity, and decision making will be analyzed. A description of supply and demand from the simulation and how to apply it in the workplace is includedRead MoreBasic Concepts1315 Words   |  6 PagesBasic Concepts Paper Charles Lloyd Eco/415 October 19, 2012 George Flemming Basic Concepts Paper Circumstances, which are different, can have a major affect on supply and demand. The simulation in this week’s assignment deals with the curves of supply and demand and how they are affected by the changing of situations that happens in the city of Atlantis with the two-bedroom apartments. Changes were supposed to be made depending on the findings and results made within the Atlantis communityRead MoreApplying Supply and Demand Concepts1027 Words   |  5 PagesApplying Supply and Demand Concepts David Hodge ECO 365 April 29, 2013 Robert Watson Applying Supply and Demand Concepts The supply and demand simulation was a very helpful tool in understanding the effects of external factors on the supply and demand curves. Understanding this concept is fundamental in preparing for real life situations. I personally enjoyed the fact that the simulation was based on a real estate management company. I was able to understand and relate to the informationRead MoreSupply and Demand Simulation Essay694 Words   |  3 PagesSupply and Demand Simulation This weeks simulation is based on GoodLife Management. GoodLife Management is located in the fictitious town of Atlantis, and rents two-bedroom apartments on a month-to-month basis. The simulation provided working examples of several factors that effectively change the supply and demand of GoodLifes rentals over the course of several years. These factors include GoodLifes management direction, population changes within Atlantis and outlying areas, changes in consumersRead MoreAssignment : System Modeling And Simulation1082 Words   |  5 PagesMMATIVE ASSIGNMENT 1 (S1) System modelling Simulation Background information: To begin with, the simulation named as Beer Game was being founded by Jay Forrester at MIT which illustrates the supply chain run by group based coordination including retailer, wholesaler, distributor and factory (Forio 2001). Moreover, the role of a retailer has been given which means the gamer have to manage the overall inventory for the retail outlets of an American company Samuels Root beer, located in Pittsburgh

Salish Kootenai College Admissions Costs More

The Key to Successful Ethic Essay Topics

The Key to Successful Ethic Essay Topics The Foolproof Ethic Essay Topics Strategy A good example essay will give answers to a lot of essential questions. It's possible to also mention what you would like to achieve by writing this specific essay. Writing a great persuasive essay is not a simple job, however, it's achievable. A properly descriptive essay with distinctive and unique content can be yours for an affordable price. This is a rather common essay topic chosen by thousands of students from all around the world. That is the reason most students must occasionally write ethics essays. When students write essays on a topic, they have to appraise various perspectives and provide proof to back up their own view. Oftentimes, they struggle when they have to conduct a research to write an ethics essay. People have the right to have a gun. Freedom makes man accountable for his acts to the extent they are voluntary. Criminals will break laws no matter the sequel of their crimes if they're caught. Attempting to rehabilitate criminals may not be that effective. But there are a number of other things that ought to be taken under consideration. As in the prior examples, it can be quite challenging to speak up, especially as soon as an incident involves popular kids. An individual, unlike quite a few other animals, is endowed with the capacity to acquire and use his knowledge to come up with and improv e himself. Regardless what choice he makes, it will be the right one for that person. Life doesn't have wrong choices. It consists of choices. Lives can be saved if more folks have the ability to get guns. The absolute most important part of a prosperous work is choosing a great topic to talk about and to defend by arguments. It normally indicates a type of confusion that must be related to a person's ethics. In the actual sense, there is not any definite term of describing what's ethical and what's not. A superb definition of ethics includes the idea of doing what's morally acceptable or what's nice and right instead of doing what's bad or wrong (Sims, 1992). In case the latter is true, the topic has to be chosen dependent on its depth and controversial nature. Your conclusion has to be persuasive, so that readers don't have any further questions on the problem. Well, it's very hard to answer this question. The question of diversity has ever been under intense discussion, and in the instance of business, it is still one of the main ethical problems. New Questions About Ethic Essay Topics In the industry world employers and company owners should be aware that there is not any room to be dishonest, or greedy dealing with a company. The bonuses were given by the government as an incentive to the executives to stay within the business during uncertainties which were brought on by the recession. Utilize LEGIT50 promo to receive 50% discount. Such society can't grow and progress. It appears perfectly reasonable that humans ought to be permitted to decide their own fate. Another complicated thing about ethics is the fact that it is cl osely related to each sphere of our life. This is most likely an assortment of rules and norm applicable in some specific spheres of our life. For the modern Earth, the ideal thing is money. Meanwhile, it has come to be an increasingly common phenomenon all around the world. See the way the media control problems and biased attitude influence society and the folks in it. Benefactors are people who give out money or some other kind of assistance to other persons referred to as the beneficiaries. Individuals ought to have the capacity of undertaking decisions by themselves. Okay, it's for you to choose! In fact, it's one reason why most students need a little extra tutoring help and solutions! New Questions About Ethic Essay Topics Ethics are values concerning human behavior. Ethics isn't an easy subject to research. Business ethics are extremely crucial in the daily running of the company. Ethics in business is another intriguing subject of study.

What Motivates Some to Volunteer or Perform free essay sample

What motivates some to volunteer or perform community service? Explain the reasons why some volunteer willingly use their spare time on projects that do not benefit them and even ones that may put them at risk. Write an essay of about 300 words. Remember that although the reasons for volunteering might be many and varied, you should choose those details that best support your overall thesis and use details that are easily understood by your audience. It is the fifth annual campus conference of Active Mind at Penn University. 100 backpacks lying down on the ground, representing each student who takes their own life every year. Alison Malmon founder and director of Active Mind, pledges to save our students from committing suicide. What motivates her and others to volunteer their time to save others? When Alison was freshman at Penn, her brother Brian was a senior at Columbia. Alison reported that Brian while in college was dealing with serious depression but didn’t feel comforta ble telling anyone. We will write a custom essay sample on What Motivates Some to Volunteer or Perform or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Therefore, help was too far too late when he kills himself in March of her freshman year. Concerned by that rising situation, Alison and some college students have taking the right decision. They have formed the Active Mind, a nonprofit organization with the goal to stop this problem. They dedicate themselves to raise mental health awareness on college campuses nationally and abroad. Understanding the need to help others cope with difficult situations is one factor out of many. These factors are the ones motivating us to volunteer and serve others. Alison Malmon is one of many who joined their voice together and call for help. Help when our brothers, sisters or our environment are under terrible threat of destructions. That makes us understand without people who care there will be no care for people. Whatever the reasons why we volunteer, we see something that may be an answer to our fight. The fight against real life problems, ideologies that will shape our present and future situations is our motivation. Like Alison and the members of Active Mind, some may willingly devote their time to serve others. But understand the value of life and the necessity to help preserve and improve it is our motivation.