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 make and supply situations due(p) to race and personal preference changes. 1. What causes the changes in supply and lead in the simulation? Initially, in an attempt to drive up the term of a contract rate, GoodLife Management withholds a portion of useable flatbeds creating an environment of scarceness. thither is also a decline in apartment demand as there is a shift in individual preference to detached lodging. 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 fall in availability due to apartment-to-condominium conversi on, the demand exceeds the supply. An special promoter 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 meagreness and considerations in the decision-making process. Presently, because of fluctuating gas prices, purchasing gasoline ahead weekends and holidays tends to save a few pennies at the gas pumps.

The increment in the price of fuel may not be because of decreases in available resources, but rather the greed of the suppliers. pander companies currently have a monopoly on the market, as! alternative 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

If you want to get a full essay, visit our page: write my paper