Supply and Demand
The above link will take you to an interactive game. This game is designed to show you the roles of supply and demand using the fast-paced business setting of lemonade sales. Please read the instructions and play a round or two of the game. After you are done, write a paper reflecting on your experience (250 word minimum). Things to include: What was your strategy while playing? What factors affected your decisions? How was supply and demand shown through this?
The Lemonade Stand game shows the concepts of the business world through the use of tricks and tactics such as demand and supply. In the game, the players are asked to create their business lemonade stand and to set the prices for the lemonade based on the customer preferences and the weather conditions. In the same game, the players are also asked to set the number of lemons, sugar, and ice together with being given twenty dollars to use in purchasing the items they would use to ensure that their businesses become successful..
From the instructions and direction given to play the game, I thought the game would be easy, but this was not the care when I started the game. In my consideration, I decided to stock the products that I will use in production including lemons, cups, sugar, and ice. To ensure that I achieved maximum profit, I set a higher price for my produce but due to the weather I had no customer and most of the lemon rotted and the ice melted. I did not anticipate this to happen since it was just an online game……..
APA 366 words