Write a 1,050- to 1,400-word paper summarizing the content of a simulation.
Use one of the following as a reference source:
Complete the Supply and Demand Simulation located on the student website.
- Identify two microeconomics and two macroeconomics principles or concepts from the simulation.
- 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 price, quantity, and decision making.
- Include responses to the following:
◦ How might 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?
Cite a minimum of 3 peer reviewed sources.
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