The Supply and Demand Simulation was an exercise in applying the generate and penury concepts of deuce bedroom apartments in the fictional urban center of Atlantis. Going through the simulator provided answers to the question of what caused the changes in tally and demand. Also, the decisiveness making process was effected by the shifts in impart and demand as it pertains to the renting price and pith of money of the cardinal bedroom apartments. Four key points were raised in the simulator. These points were frugal growth, business cycles, unemployment, and inflation. Practical application can always be incorporated no matter what industry is being addressed. A person can always take away from a learning experience some concepts to incorporate into their own organization. In year 1, the request was for the vanity rate to be brought surmount to 15%. In doing so, the monthly renting rate decreased. When the rental rate is reduced, the demand for more apartments is inc reased and therefore the vacuum rate is decreased. In the next section of the simulator, the demand was to turn out more apartments. The rental rate then needed to increase, to $1,550 per month, in order to lease all available apartments because of the increase in maintenance costs. The next issue addressed was the imbalance mingled with quantity supplied and quantity demanded.
A balance was struck imputable to a lowered monthly rental rate. The rate decreased, then, to $1,050. With the demand and preparation in a state of equilibrium, there is no bonus for the rental rate or the number of apartments to change. later twain years, a new company, Lintech,! Inc., moves into town and creates a great amount of jobs and also increases the population of Atlantis. This is one of the major contributors to the changes in yield and demand in this simulator. If you want to get a broad(a) essay, order it on our website:
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