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Submitted by brugal on April 20, 2008
Category: Business
Words: 617 | Pages: 3
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Running head: Supply and Demand Simulation Paper
Supply and Demand Paper
Rafael Martinez
University of Phoenix
April 15, 2008
Phil Behnke
ECO/365
Supply and Demand Simulation Paper
In the simulation the effects of the rental rate including the economic situation the determined the shifts with respect to the demand and supply curve. The ongoing changes were critical because the slightest alteration impacted the overall occupancy and rental rate particularly for the respected year. The news in Atlantis whether the population increase or the decrease of jobs also caused the shifts to right and the left. For example if the demand increased the demand curve would shift to the right.
The supply and demand model definitely affects your decision making regardless. The nature of the economic weight is so strong that without a doubt it arguably determines a company’s situation and the overall economic health of a country. The levity of the supply and demand goes beyond just the impact of your price it also affects your production and more importantly dictates what should be done on a consistent basis. Therefore without proper analysis a company could make it or break it depending on the market, economic factor or the direct/indirect demographic of the specific product.
Production, labor costs, decision making, and other economic factors played a key role in the simulation including the reading. They’re pertinent to the supply and demand because any one of them can shift the curve can cause problems and ask for change. The curves can shift to a downward slope if supply increases. High demand of petroleum for instance can alter the price and cause the demand curve to shift to the right. By following the market trends and selecting what’s best can help a company determine where the next shift or decision is needed. The production is vital also because you can probably...
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