ECO 365 Week 2 Individual Assignment: Supply and Demand Simulation
Supply and Demand Simulation
Of course alternatives upset the demand and supply of products. With numerous of individuals in Atlantis already owning their own homes in the suburbs, there is no need for them to rent houses in town. The need for houses fell, which cause the suppliers to reduce supply or lower rents to appeal to more customers.
Clients’ palates and likings disturb the supply and demand of good and services in the market.
When the consumer needs change from two room apartments to housing needs, this causes a modification in demand for apartments to tumbled, whereas demand for houses increased.