eco/365 week 2 individual - 1293 Words

Supply and Demand Simulation ECO 365 Supply and Demand Simulation The Supply and Demand simulation was reviewed on the student website demonstrated the concepts of the concepts of microeconomics and macroeconomics. The principles of microeconomics and macroeconomics were explained and applied throughout the simulation demonstrate the rationale for the shifts in the supply and demand curve. Each shift is analyzed showing the effects of the equilibrium price, quantity, and decision making process for the simulated company represented. The concepts encountered in the simulation provide an opportunity to better understand how each can be applied to my current workplace. The Scenario provides an†¦show more content†¦This is a result of a demand shift to the left related to a lack of available tenants for the apartments. The property management company has to decrease rental rates allowing the quantity supplied to decrease as well (University of Phoenix, 2012), creating a downward swing in the supply curve. The price of rentals decreased to crea te less quantity that is available for rent creating equilibrium and a decrease in surplus. This is a difficult decision to lower price significantly but will continue to create revenue for the property management company while decreasing supply of vacancy. Throughout the simulation I encountered instruction that I can apply the use of supply and demand at my workplace. As a soldier, leader and educator, supply and demand is represented by available student seats, man hours, supply, and equipment. The cost of educating one soldier costs $600 plus or minus. In today’s economy, we are forced to become creative in determining the best means to decrease costs. Although our demand remains consistent the military must meet the supply of inventory that is available. As demand decreases the military also has to decrease supply on hand while also cutting labor hours of not only soldiers as well as civilian personnel to remain profitable. When the demand increases for our services the need for increased personnel and the supplies also increases. The simulation also showed me several ways businesses can operate by simply adjusting supply to meetShow MoreRelatedUop Eco 365 Week 2 Individual Assignment1003 Words   |  5 PagesWeek 2 Assig nment – Supply and Demand Simulation Week 2 Individual Assignment – Supply and Demand Simulation This week’s assignment examined the effects of supply and demand on the pricing and availability of real world goods. In this instance, the simulation looked at pricing and availability of two bedroom apartments in the fictional city of Atlantis. The simulation takes a look at several different situations, outside market factors and governmental influence. By going through the simulationRead MoreEco-Products, Inc.7415 Words   |  30 PagesCAPSTONE CASE 1: ECO-PRODUCTS, INC. End-of-Case Assignments: Suggested Discussions and Analyses A. Describe Eco-Products’ early history (1990 through 2003). Would you view the firm during that period as being a life-style business, an entrepreneurial venture, or? Why? Steve Savage and his father founded the company in 1990 with the intent to provide eco-friendly paper and janitorial supplies. They chose to locate the business in Boulder, Colorado, a community known for its support of environmentalRead MoreEco-Products, Inc.7406 Words   |  30 PagesCAPSTONE CASE 1: ECO-PRODUCTS, INC. End-of-Case Assignments: Suggested Discussions and Analyses A. Describe Eco-Products’ early history (1990 through 2003). Would you view the firm during that period as being a life-style business, an entrepreneurial venture, or? Why? Steve Savage and his father founded the company in 1990 with the intent to provide eco-friendly paper and janitorial supplies. They chose to locate the business in Boulder, Colorado, a community known for its supportRead MoreSupply 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 MoreDifferentiating Between Market Structures Paper on Kudler Fine Foods1063 Words   |  5 PagesDifferentiating Between Market Structures on Kudler Fine Foods ECO/365 University of Phoenix Week 4 Individual Assignment March 11, 2013 Differentiating Between Market Structures The analysis will apply important microeconomic concepts toward the competitive strategies of the Kudler Fine Food Virtual Organization, which affect its long-term profitability. The analysis will evaluate the differences between market structures and review the organization’s strategic plan, marketing overviewRead Moreeco 365 week syllabus1755 Words   |  8 Pagesï » ¿ Syllabus School of Business ECO/365 Version 4 Principles of Microeconomics Copyright  © 2011, 2008, 2007, 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies FacultyRead MoreCorporate Financial Analysis2432 Words   |  10 PagesUnderstanding  the  company Financial  statements Paperless,  sustainable,  eco†friendly ï‚â€" On  UTS  online: ï‚â€" all  the  readings  are  available  in  pdf format ï‚â€" all  the  lecture  slides  are  available  in  pdf or  pptx format ï‚â€" This  saves  you  approx  $140  AND  you  can  use  it  on  your   iPad/reader/phone/laptop/PC  (or  print  it  out)? ï‚â€" Does  it  make  you  more  efficient? Lecture 1 - Intro 2 How  to  do  well  in  the  class: ï‚â€" Ensure  you  can  do  the  Ã¢â‚¬Å"DO  LIST†Ã‚  each  week ï‚â€" The  tutorial  questions  will  be  introduced  during  the   lRead MoreStudy Guide Eco/3652084 Words   |  9 PagesECO/365 Final Examination Study Guide This study guide prepares you for the Final Examination you complete in the last week of the course. It contains practice questions, which are related to each week’s objectives. Highlight the correct response, and then refer to the answer key at the end of this Study Guide to check your answers. Use each week’s questions as a self-test at the start of a new week to reflect on the previous week’s concepts. When you come across concepts that you are unfamiliarRead MoreEco365 Week1 Essay2640 Words   |  11 Pages| Syllabus School of Business ECO/365 Version 4 Principles of Microeconomics | Copyright  © 2011, 2008, 2007, 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies FacultyRead MoreEco 3653142 Words   |  13 PagesCourse Design Guide School of Business ECO/365 Version 4 Principles of Microeconomics Copyright  © 2011, 2008, 2007, 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies