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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 672 |
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This lowered the price below the equilibrium point making the demand rise since the housing became extremely affordable. This caused the demand to exceed the supply available. These shifts affected the decisions I made during the simulation. In the beginning I lowered the price to fill more rooms as instructed by the owner...
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The population boom caused the price to rise. The decline in interest due to higher salaries in the population caused me to have to lower the price to fill the gap in supply and demand. The government issued policy had me lower the price even lower to an economically not favored price.
The simulation exemplified some concepts from the reading; the equilibrium point, the affect on the economy that government policies have, shifts in the demand and supply curve, and how factors like population can affect the curves...
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General points of the essay
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