Brandon has been living in the same neighborhood for over 30 years. In recent years, he has seen a surge in population due to new corporate businesses setting up shop in town. The surge in population has also come with a surge in real estate prices. Why would this be the case? As population increases, so does demand. An increase in demand leads to an increase in prices. As population increases, demand decreases. A decrease in demand leads to an increase in prices. As population increases, oil prices decrease, which leads to an increase in prices. As population increases, supply will also increase, which drives up prices.

Brandon has been living in the same neighborhood for over 30 years. In recent years, he has seen a surge in population due to new corporate businesses setting up shop in town. The surge in population has also come with a surge in real estate prices. Why would this be the case? As population increases, so does demand. An increase in demand leads to an increase in prices. As population increases, demand decreases. A decrease in demand leads to an increase in prices. As population increases, oil prices decrease, which leads to an increase in prices. As population increases, supply will also increase, which drives up prices.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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