Microeconomics and the Laws of Supply and Demand
Please make sure that you do a powerpoint and it has speakers notes. ;
Complete ;the Supply and Demand Simulation located on the student website.
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Submit ;a 10- to 15-slide (excluding cover and reference slides) Microsoft® ;PowerPoint®presentation, which would highlight the content of a 700 – 1,050-word summary paper addressing the following: (You do not need to submit the paper, just use it as a reference.)
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?
Format ;your presentation cover and reference slides consistent with APA guidelines.