Write a research article providing an explanation of what constitutes a basic definition of economics.Experts predict house prices in the UK will generally fall in 2024. Nevertheless, it is also expected that shortage of supply of new houses and solid demand will limit the decline in house prices. By considering this, you should identify, investigate, and discuss three factors that are affecting supply in the UK housing market and their impact on the supply curve. You should use data and information from various sources to support your arguments.
It is expected that relevant graphs showing the impact of each factor/determinant (ceteris paribus) on the housing supply curve (i.e. movement along the supply curve or shifts of the supply curve) and in-text citations will be included to demonstrate your understanding and effectively support discussion. (60% of marks)
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