Basic Concepts Paper

Basic Concepts Business Economics 415 Kenneth Leonard November 5, 2011 Word Count 1459 1. How do exchanges in the business environment cause changes in ply and request? Cite and explain at least deuce examples from the simulation. A: A number of factors actuateed the supply and demand of two-bedroom apartments in the simulation. Over a course of nine years, the changes in the direction of GoodLifes management, the changes in Atlantiss population, renter preferences, and carrying into action of price ceilings all caused electric switchs in the supply and demand of apartments. These factors presently affected the decisions made within the simulation. A decrease in demand os apartments was due to changes in the preference of tenants. In response to the preference change, GoodLife converted apartments into condominums that were offered for sale. Due to the change to condominiums, a decrease in the supply occurred at the same cadence as the decrease in demand; as a result, both the supply and demand bend shifted to the left. Demand hindquarters also be affected by income, consumer preferences, taxes, and subsidies. The supply curve can also be affected by technology, provider expectations, taxes, and subsidies.

These other factors cause the supply and demand curves to shift in or out depending on which factors ar at work, these shifts affect the supply or demand at each price. In the Year Five, scenario and both Year Seven scenarios, the simulation illustrates shifts in supply and demand. The Year Five scenario has a demand shift because a new company moves into Atlantis. The outgrowthd population causes an increase in the quantity of apartments demanded. In January of Year Seven, the simulation states that consumer preferences are leaning towards home purchasing instead of apartment rental. The change in consumer preferences causes a decrease in the quantity of apartments demanded in Atlantis. In July of Year Seven, the change of consumer preferences is still being felt by the market... If you want to get a full essay, put it on our website: Ordercustompaper.com

Ordercustompaper.com is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!