Address the following:
What causes the changes in supply and demand in the simulation?
How do shifts in supply and demand affect your decision making?
List four key points from the assignments emphasized in the simulation.
How may you apply what you learned about supply and demand from the simulation to your workplace?
Determine how price elasticity of demand affects the consumerâ??s and the organizationâ??s decision-making.
Summarize your results of the assessment.
Supply and Demand Simulation is clarified in this solution. References are also provided to further validate the findings.