Demand and Supply in action - the housing market
Monday, July 19, 2010
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It has been reported today that a flood of houses onto the market is likely to cause the average house to fall over the next six months. This article is a great one for pupils to read and then construct a demand and supply diagram. If we think ahead to the GCSE exam pupils will be expected to draw a demand and supply diagram using information given to them and then describe what has happened to price and quantity sold, they may also be asked to explain why the change has happened.
You could extend some of your pupils by asking them to consider the PED and PES for the housing market.
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