... equals quantity supplied" (Colander, 2004, p. 96). * Demand vs. quantity demanded: demand refers to how much of a certain good or service will be bought at various prices within a specified unit of time, whereas quantity demanded "refers to a specific amount that will be demanded per unit of time at a specific price, other things constant" (Colander, 2004, p. 85) * Supply vs. quantity supplied: supply refers to how many goods or services a seller is willing to sell at various prices within a specified period of time whereas the quantity supplied "refers to a specific amount that will be supplied at a specific price" (Colander, 2004, p. 92) Catalysts to Changes in Supply and Demand In an effort to reflect real world scenarios, the Supply and Demand Simulation runs participants through a number of situations which cause changes to supply and demand to the apartment rental business as experienced by ...

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