ECO365 Principles of Microeconomics

Individual

Supply and Demand Simulation

Completethe Supply and Demand Simulation located on the student website.

Write700 - 1,050-word paper of no more than summarizing the content. Address the following:

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,