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ECO 365 Week 2 Supply and Demand Simulation

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Information about ECO 365 Week 2 Supply and Demand Simulation
Education

Published on February 27, 2014

Author: 4StudentWhiz

Source: slideshare.net

Description

The ECO 365 Week 2 Supply and Demand Simulation is dedicated to make the understanding of the students more clear towards the basics of Economics. The assignment dealt with making the students identify the principles of micro and macroeconomics. The information used in the Supply and Demand Simulation have been useful for the students to categorize the application of macro and microeconomic principles as linked to the real world. It is extremely significant to reflect on the microeconomic principles dealing with part of Economics that are single factors and could affect individual decisions.
The Supply and Demand Simulation highlighted that many times the vacancy level can be personal, may rest on individual decision, and the market prices can be easily adjusted to meet different expectations. The assignment also reflected on the fact that ones the corporations move with the employees the population of the company may start growing. Next, we discussed about the role of the shift of the supply curve and the demand curve in the simulation. It is evident that each shift would affect the equilibrium price, quantity, and decision-making process of the company as well as the country’s Economy at large.
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