Supply and Demand Simulation

The purpose of this paper is to answer questions pertaining to applying interpret and fill concepts presented in the week two simulation (University of Phoenix, 2004). The simulation provides a scenario in which the property management firm, GoodLife direction, experiences varying bring and supply situations due(p) to creation and personal preference changes. 1. What causes the changes in supply and guide in the simulation? Initially, in an attempt to drive up the rental rate, GoodLife Management withholds a portion of useable flatbeds creating an environment of scarceness. there is also a decline in apartment demand as there is a shift in single preference to detached housing. To accommodate and capture these consumers, GoodLife Management converts a portion of existing apartments into condominiums again creating a scarcity of apartments. However, as new businesses arrive in Atlantis and there is a slump in availability due to apartment-to-condominium conversion, the demand exceeds the supply. An special agentive role affecting consumer demand for apartments is attributable to lower available housing in neighboring towns. 2. How do shifts in supply and demand affect your decision-making? Any affects would depend on immediate meagerness and considerations in the decision-making process. Presently, because of fluctuating gas prices, purchasing gasoline in the lead weekends and holidays tends to save a few pennies at the gas pumps.

The festering in the price of fuel may not be because of decreases in available resources, but rather the greed of the suppliers. corrupt companies curre ntly have a monopoly on the market, as ple! ctron fuels are not fully competitive, which means consumers as a whole, pay what the supplier demands. For those activities requiring consideration for gas prices, such as unnecessary travel, there may be a decline. In the consideration of larger or luxury purchases, it may be more prudent to wait for prices to drop... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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