In this essay the focus is on the Supply and Demand Simulation on the University of Phoenix online resource page for Economics. The questions that will be answered are the following: 1). What causes the changes in supply and demand in the simulation? 2). How do shifts in supply and demand affect your decision-making? 3). List four key points from the reading assignment that were emphasized in the simulation. 4). How can you apply what you learned about the …
showed first 75 words of 1047 total

showed last 75 words of 1047 total
…the prices of other goods (detached homes). The fact is since the residents of Atlantis have had a change in the personal income their demands for the detached homes have increased. Therefore the demands of the two-bedroom apartments have declined. In the simulation Good Life Management turned four hundred of the two-bedroom apartments into condominiums to meet the consumer's demands for more detached homes. Colander, D.C. (2004). Macroeconomics (5th ed.). Burr Ridge, IL: Irwin/McGraw-Hill.