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The Average Home in Hong Kong Is Much Smaller in Size

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Essay

The average home in Hong Kong is much smaller in size than in Australia. How is the difference related to land being more expensive in Hong Kong?


Definitions:

Market Demand Curve

A graphical representation showing the total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Demand Curves

Graphs showing the relationship between the price of a good and the quantity of that good that buyers are willing to purchase at various prices.

Goods

Tangible items that are produced for sale or use, often categorized as consumer or industrial goods.

Quantity Demanded

The total amount of a goods or services that consumers are willing and able to purchase at a given price level at a specific time.

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