When There Is a Sudden Increase in the Demand for Housing

question 1

Multiple Choice

When there is a sudden increase in the demand for housing in a community, the price of existing housing will

• A) rise slowly over the next 12 months.
• B) rise rapidly, then fall slightly as supply catches up with demand.
• C) not reflect the increased demand for approximately 12 months.
• D) none of the above.

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Definitions:

Influencing Others

The ability to affect the behavior, development, or actions of others through persuasion, leadership, or other means.

Reward Power

The ability to influence others' actions by controlling access to desired resources or rewards.

Manager Power

The ability or capacity of managers to influence the behavior of their team members or allocate resources within an organization.

Influence Tactic

Strategies used by individuals or groups to change the behavior or attitudes of others in a particular direction.