An Increase in the Cost of Building Materials Will Generally

question 57

Short Answer

An increase in the cost of building materials will generally lead to a _______ in the ______ curve for new homes.

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Definitions:

Trade Restrictions

Government-imposed limitations on the free exchange of goods and services between countries, such as tariffs, quotas, and embargoes.

Economic

Relating to the economy or the study of how societies use resources to produce and distribute goods and services.

Degree of Rivalry

The intensity of competition among existing competitors in a market.

Threat of New Entrants

The potential risk posed by the possibility of new companies entering a market, which can impact the competitive environment and profitability for existing players.