Explain the knowledge and application of theory of supply and demand, related to the construction/housing sector. Explain Price elasticity theory and application.

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Question

Explain the knowledge and application of theory of supply and demand, related to the construction/housing sector. Explain Price elasticity theory and application.
 
Summary

The question belongs to Economics and it deals with the supply and demand related to construction industry or the housing sector. According to some theories, the prices, demand and supply in housing sector vary differently with different parameters. But, one thing that is common is that housing prices do go up when the rate of employment increases.

Total Word Count 579