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3) How can you apply what you learned from the simulation to your workplace?
Employers need to follow government fiscal policy to monitor how their own operations should adjust to economic conditions. Unemployment occurs when prices and wages do not fall in face of excess supply of labor and goods because they are rigid and adjust slowly. Therefore, in the short run, businesses have to decrease production. In the long run, all prices are wages are flexible so that the markets achieve equilibrium. Businesses can lower wages and decreases their prices. Wages decline until the surplus of labor is gone. And, prices decrease until the fall stimulates demand for goods. Eventually there is full-employment production.
One of the most important economic indicators to look...
If the interest rate is lower than inflation, the borrower benefits and would benefit by financing a large purchase through credit. This is because the real inflation-adjusted value of the money that the borrower would pay back would be lower than the real value of the money when it was borrowed
4) What were your Growing Further results for the assessment?
Changing fiscal policies involves trade offs. As expansionary polices take effect, they typically achieve their desired objectives or increasing real GDP and decreasing unemployment. However, continued increases in aggregate demand eventually move the economy out of recession into an inflationary economy. At this point, fiscal policies will need to be adjusted downward.
The apartment management company prices to cover costs. However, if there is scarcity in the market, the company can earn superior rents, leading to higher profit. The interest is related to the cost of doing business, if the landlord has leveraged in order to acquire the property. d. In my workplace, supply and demand work much the same as in the simulation, albeit with different demand and supplier drivers. We
The tests found that major differences, especially in dynamic modulus, exist in the different mixtures of asphalt, and even among samples of the same mixture. The results suggest that that the constitutive makeup of paving materials interact to have a greater effect on the performance of the material than might otherwise be suspected. In addition, it was found that certain results of the dynamic modulus tests were not accurately predicted
Supply Demand Simulation Macro and Microeconomic Principles From the simulation, the two major microeconomic principles are supply and demand. The simulation majorly focuses on the supply and demand of rental properties in Atlantis. In addition, the influences on supply and demand form the major topic discussed in the simulation. The macroeconomic factors clearly stated in the simulation are changes in the population trend, choosing to rent or buy apartments and factors that
simulation, a very powerful computer-based technique has rapidly gained acceptance as a decision-making tool in business as well as industry (Wynn et al.,2007). The main uses of simulation in business processes are the improvement of operating as well as operational efficiency (Watkins & Hill,2009). The basic idea of the concept of simulation is to accurately model a given physical process on the computer screen by incorporating the various uncertainties
simulation featured a number of different economic concepts. The first is the issue of the supply curve. Shifts in the supply curves occur as the result of changes in price, or also in changes in demand. When the price of a good in the market changes, firms are likely to increase production. When the price of a good in the market decreases, some firm are likely to reduce or
Thus, placing the business emphasis on meeting the customers' expectations is imperative. Finally, when finance is the bottleneck, nothing at all can run smoothly. Finance is the engine that powers all of the other business functions. You could have the most high performance business model imaginable but without enough assets to fund the model all is lost. For example, if the supply chain and marketing operations are strong but finance