supply and demand 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. The microeconomic topics would be the demand and supply curve. The demand curve shows how consumers would react to prices. The supply curve shows how landlords would react to price by how much units will sell. The outside company coming in and the price cap would
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The principles of supply and demand are what most think of when the topic of economics emerges. Although the study of economics covers a broad range of meaning, one cannot help but to think that economics cover the relationships between people and spending habits. This paper will define economics, the law of supply, and the law of demand. In addition to defining terms, this paper will take the article, Demographic Analysis for Consumer Spend in Communications, and list the factors contributed
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credits ECON2101 Microeconomic theory or 6 ECON2113 Microeconomic analysis 6 ECON2102 Macroeconomic theory or Macroeconomic analysis ECON2114 ECONxxxx/ Year two/Year three courses listed in Economics 36 FINAxxxx or Finance electives Total: 60 2. Major in Finance (60 credits) Course code Course Year 1 courses: 18 credits BUSI1002 Introduction to accounting ECON1001 Introduction to economics I FINA1003 Corporate finance Year 2 and Year 3 courses: 42 credits ECON2101 Microeconomic theory or ECON2113
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BINDURA UNIVERSITY OF SCIENCE EDUCATION FACULTY OF COMMERCE DEPARTMENT OF ECONOMICS COURSE OUTLINE FOR ECONOMIC PRINCIPLES1 – EC101 Lecturers : A.Chingarande (0776326638), F. Tafirei (0772757491) & M. Mzumara (0712737723) Emails : achingarande@buse.ac.zw, ftafirei@buse.ac.zw & mmzumara@buse.ac.zw Consulting Times: Tuesdays and Thursdays 0900 Hrs – 1100Hrs or by appointment Venue : Office No H8 (Clinic Office) Main Campus Course Aims: Provide a basis of factual knowledge of economics; Encourage
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• 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. o Microeconomics Principals: Scenario 1: In one of the first scenarios it talks about decreasing the rent to lower the vacancy percentage and maximize revenue for the company putting the focus on supply and demand. This would be a temporary fix on a month-to-month basis. o Microeconomics Principals: Scenario
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Analyzing Supply and Demand The production possibilities curve displays the different combinations of two goods or services that can be produced in a full production economy with full employment, with the availability of fixed resources and fixed technology. It is a production frontier due to its display of the limit of attainable outputs (Rittenberg & Tregarthen, 2008, p. 52). The law of increasing opportunity costs states that as production of goods increase, the opportunity cost of producing
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Microeconomics and the Laws of Supply and Demand Vanessa Hill ECO/365 October 8, 2014 The Supply and Demand Simulation categorized the application of Macro and Microeconomic principles as linked to the real world. It concentrates on that many times the vacancy level can be personal, may rest on individual decision, and the market prices can be easily adjusted to meet different expectations. It also talks about the role of the shift of the supply curve and the demand curve. Demand refers
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Simulation Andrea Nelson ECO/365 May 12. 2014 Vilma Vallillee Supply and demand simulation From the University of Phoenix supply and demand simulation I identified a few microeconomic and macroeconomic principles. Monopoly and Maximizing revenue are two microeconomic concepts. Colander (2010) explains that microeconomics is “the study of individual choice, and how that choice is influenced by economic factors (p. 15)”. Economic factors and the market influence both of them. Macroeconomics, on
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both macroeconomics and microeconomics and also influenced by the equilibrium price and quantity. Price electricity of demand also has an impact on the consumer’s purchasing and on the pricing strategy of the company. All these items were either shown or demonstrated in the simulation online in a city called Atlantics and this is how I see them. Macroeconomics and Microeconomic Principles Supply and demand of apartments being rented in Atlantics are the two microeconomic concepts that are present
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Microeconomics and the Laws of Supply and Demand Your NAME ECO/365 July 6, 2015 INSTRUCTOR NAME Microeconomics and the Laws of Supply and Demand The simulation showed how a shift in the supply curve or the demand curve can lead to significant changes to the economic standing of the business. When the demand curve shifts downward or to the left it showed a decrease in demand from renters thus yielding less apartments rented. This happened when the new company who moved into the area had a
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