Week 2 ECO 212 Supply and Demand

Week 2 ECO 212 Supply and Demand - Supp l y and Dema n d...

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S u p p l y a n d D e m a n d P a g e | 1 Supply and Demand Axia College XECO 212 Zac Worley July 7, 2010
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S u p p l y a n d D e m a n d P a g e | 2 In the course of a lifetime people will purchase many products. Some purchases will be impulse buys, others will be well researched and thought out. The one purchase that will take the most research will be a new home. Buying a home is a very important decision to make. There are many factors that need to be considered when purchasing a home like price, location, and size. All these factors need to be considered when making such an important decision. Location and size are important but price is usually the deciding factor when the final decision is made. If a person can’t afford what they want then they might need to wait or look for alternative forms of housing. Many factors are involved in determining the price of a home. Like any other good supply and demand a key driver in the price of a home. Depending upon the market the cost of a home could be higher than expected because of demand. If price drives the demand then the supply will follow. There
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This note was uploaded on 08/21/2011 for the course BUS 101 taught by Professor Doe during the Spring '10 term at University of Phoenix.

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Week 2 ECO 212 Supply and Demand - Supp l y and Dema n d...

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