AlfredMarshall Essay Example for Free

AlfredMarshall Essay leave and consume Simulation ECO/365 March 10, 2014 Ed Hartmann, D. B. A sum up and Demand Simulation Microeconomics and Macroeconomics In the simulation the go forth and take was affected due to the decreasing of the train in order to lower the vacancy persona and affix the revenue for the renting order. This is thought of as a temporary fix on a month to month lease basis and provides us with a good drill of what microeconomics is. When a unsanded company decided to move into town and maturation the population as well as increase the number of jobs provides us with another good example of microeconomics. Because the population change magnitude and the jobs increased means the rental rates are increased as well in order to respond to the increase in use up. The simulation also showed that people who were working in Atlantis were living in cities outside of town because the rent was less there, this is an example of macroeconomics. The governme nt decided to take control of the situation by putting a ceiling of $1550 per month for a 2 bedroom apartment in order for middle crime syndicate families to be able to afford to live within the city that they work in which is another example of macroeconomics.Because of the ceiling being put on the rental properties it caused the rental company to only rent a portion of their apartments so that they would be able to mention some sort of profit because of the cost of maintenance. deliver of Supply and Demand Curve The simulation showed us that when the crude company moved into town increase the population the supply curve shifted down because the supply of the two-bedroom apartments ended up decreasing. Because the population grew within the town the demand curve increased. Analyzing the ShiftWhen the increase in demand occurs this means that the quantity demand is bigger than the quantity supplied from the initial equilibrium, which also means that there is a temporary short ci rcuitage in the market. When the company increased the rental rate due to the demand increasing, the quantity demand decreased and the quantity supplied increased, in return there was a reduction shortage that occurred. The company will have to continue to make adjustments until the equilibrium is met between the new demand curve and the initial supply curve.When the company reached a new equilibrium, the rental rate was higher than it was before, and therefore the number of apartments that were demanded and supplied were increased (University of Phoenix, 2003). Applying What We Learned In Our Workplace Supply and demand in my workplace is based on our customers and what they require. One of our biggest customers is the government mainly the military. For our company when our farming is not at war or protecting another country then the demand for our ingathering is low.The demand for our products helps other areas such as law enforcement but the government holds most of the demand of product. When the demand is low our company will need to reduce our headcount in order to stay on top of the game. Conclusion In microeconomics the supply and demand relies on both the competitors and the cost. At the point in which the bidding is done is referred to as the equilibrium. Macroeconomics showed us that when the jobs and population were increased the increase or decrease on the apartments occurs.The equilibrium is higher than it was before and therefore the number of apartments that were demanded and supplied increased as well. The price elasticity of demand affects a consumers purchasing and the firms pricing strategy when the prices for apartments were lower and the demand was higher. Because of this the prices were increased due to the demand of apartments needed. However, because the prices of the apartments increased the demand for apartments decreased or stayed the same over a short period of time.It seems to me that supply and demand is sort of like dealing w ith the stock market. When the demand is great you increase the prices to make big profits, however when the demand is lowered than the prices decrease to make sure that the company will come out at least even in the end. References University of Phoenix. (2003). Applying Supply and Demand Simulation Multimedia. Retrieved from University of Phoenix, eco365 website. University of Phoenix. (2003). Applying Supply and Demand Simulation Multimedia. Retrieved from University of Phoenix, eco365 website.