Supply And Demand Simulation Analysis

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The Supply and Demand Simulation takes place in the City of Atlantis. A small city with open spaces with adequate parks, green areas, easy access to highways, with good sidewalks and street systems. Traffic concentration is minimal in most neighborhoods in Atlantis and pollution is low. Tree-lined streets and well-maintained sidewalks allow residents to engage in activities such as walking, jogging, or biking. There is also extensive space for habitats for wildlife. The housing market in Atlantis is typical. Housing consists of both detached homes and apartments. Most of the properties are well maintained and are in good condition. The crime rate in the city are low and public infrastructure is good. I work for a property management company called GoodLife in this scenario and have been tasked with changing key variables to increase occupancy, decrease vacancy, and increase revenues. During the simulation I was shown the supply and demand chain of a two-bedroom apartment. The simulation highlighted the demand curve, the supply curve, and equilibrium for …show more content…

The two microeconomic factors in this simulation are the supply and demand of rental apartments with two-bedrooms in the community of Atlantis. This is because supply and demand are decisions made by the consumer or rental agency. The simulation demonstrated definitive shifts to the supply and demand curves which caused substantial deviations to the economic playing field. The demand curve is defined as the relationship between the price of the good and the amount or quantity the consumer is willing and able to purchase in a specified time period, given constant levels of the other determinants--tastes, income, prices of related goods, expectations, and number of buyers (Sosin, n,d,). With the demand curve downward sloping the quantity demanded increased as the price decreased as the demand curve moved

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