ECO 365 Week 2 Individual Assignment Supply and Demand Simulation (Microeconomics and the Law of Supply and Demand) | Documents and Forms | Research Papers

ECO 365 Week 2 Individual Assignment Supply and Demand Simulation (Microeconomics and the Law of Supply and Demand)

ECO 365 Week 2 Individual Assignment Supply and Demand Simulation (Microeconomics and the Law of Supply and Demand) PLDZ-822 Instant Download Price
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Watch the Khan Academy Video "Changes in Market Equilibrium" located in the Week 1 Khan Academy Videos.

Write a 1,050- to 1,400-word paper summarizing the content of the simulation and address the following:

•    Identify two microeconomics and two macroeconomics principles or concepts from the simulation/video.

•    Explain why you have categorized these selected principles or concepts as microeconomics or macroeconomics.

•    Identify at least one shift of the supply curve and one shift of the demand curve in the simulation/video.

•    Explain what causes the shifts, and how each shift affects the price, quantity, and decision making.

Include responses to the following:

•    How might you apply what you learned about supply and demand from the simulation/video to your workplace or your understanding of a real-world product with which you are familiar?

•    How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on equilibrium price and quantity?

•    How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?

•    How does the price elasticity of demand affect a consumer's purchasing and the firm's pricing strategy as it relates to the simulation/video?

Cite a minimum of 3 peer reviewed sources.

Click the Assignment Files tab to submit your assignment

Watch the Khan Academy Video "Changes in Market Equilibrium" located in the Week 1 Khan Academy Videos.Write a 1,050- to 1,400-word paper summarizing the content of the simulation and address the following: • Identify two microeconomics and t
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