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Housing Economics

INTRODUCTION

 According to Smith (1776: p. 525), the markets are surviving through the behaviours of demand and supply. Therefore the demand and supply is known as the main market forces that shape the business as well as customer practices. However with the fluctuations taken place in the demand and supply the whole market system changes, as it depended upon the main market sources. The demand and the supply can be influenced by several factors. The studies of Smith (1776: p. 525), specifically elaborated that the use of price as the invisible hand in the market, to determine the interest of the both customers and the suppliers. Therefore the main influential factor for both demand and supply is the price. Howell (2004: p. 122), has argued that the price and  the  quantity demand and supply are having a two way relationship, which influence the both rises and collapse of the quantities as well as the price.

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Published: 06 Nov 2018 Views: 0 Type: Assignment