Use the attachments from the Supply and Demand Simulation
Write a 900 – 1,050-word paper summarizing the content of the simulation,
and address the following:
Identify two microeconomics and two macroeconomics principles or concepts
from the simulation.
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.
Explain what causes the shifts, and how each shift affects the equilibrium
price, quantity, and decision making.
Include responses to the following:
.How may you apply what you learned about supply and demand from the
simulation 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?
List several references including the e-text.
Format your paper consistent with APA guidelines.
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