UOP ECO 365 Week 2 Individual Supply and Demand Simulation .pdf
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ECO 365 Week 2 Individual Supply and
Check this A+ tutorial guideline at
Complete the Supply and Demand Simulation
Write 700 - 1,050-word paper of no more than summarizing the content.
Address the following:
Identify two microeconomics and two macroeconomics principles or
concepts from the simulation. Explain why you have categorized these
principles or concepts as macroeconomic or microeconomic.
Identify at least one shift of the supply curve and one shift of the demand
curve in the simulation. What causes the shifts?
For each shift, analyze how it would affect the equilibrium price,
quantity, and decision making.
How may you apply what you learned about supply and demand from
the simulation to your workplace or your understanding of a real-world
product with which you are familiar?
How do the concepts of microeconomics help you understand the factors
that affect shifts in supply and demand on the equilibrium price and
How do the concepts of macroeconomics help you understand the
factors that affect shifts in supply and demand on the equilibrium price
Relating to the simulation, explain how the price elasticity of demand
affects a consumer’s purchasing and the firm’s pricing strategy.
Format your paper consistent with APA guidelines.
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