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Essay Details:
Essay text:
The study
of economics, with its basic concepts such as supply and demand, is fundamental in
understanding today’s property market as simple economic decisions can alter the
market significantly. “The interplay of demand (the behaviour of buyers) and supply
(the behaviour of sellers) determines the quantity of the good produced and the price
at which it is bought and sold” (David Begg, 2005). The property market is a free
market, which allows the market to be completely controlled by the forces of supply
and demand. There are many factors that could influence the impact of supply and
demand...
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