explain how supply and demand effect the prices of homes and be sure to shpw your work
3 answers
A place to live is a necessity, every human needs one. When there are less homes than human families that need them, homes are scarce, and folks will bid up the available houses. Contra, when there are more homes available than folks who need one, the prices go down. Often, this is the effect of migration (jobs, etc).
How can two people specilzie in producing products when it seem one person is self sufficent. Say that each person has the same jobs.answering phones & producing statements. one person can answer 8 phone calls in an hour or produce 1 statement in a hour. The other person can answer 10 calls in a hour while producing 2 statements. does each person have a absolute advantage in producing both products? or should they specalize?
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