How may you apply what you learned about supply and demand

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Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic.

• Identify at least one shift of the supply curve and one shift of the demand curve in the simulation. What causes the shifts?

• For each shift, analyze how it would affect the equilibrium price, quantity, and decision making.

• 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?

Reference no: EM13247688

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