The following assignment is divided into two sections. Section 1: Application; Section 2: Comprehensive. The assignment must be submitted in ONE word document. Section 1: Application (40 Points) Please answer the following question by integrating research, examples and opinion. Your answer should be no less than 300 words in length. The assignment is worth 40 points. It is important that your answer is justified and supported with substantial research, examples and opinion. A brief introduction and conclusion should be included in your answer. 30 points is allocated to justification and accuracy of your answer (the use of 2-3 academic resources is required).*wikipedia is not accepted as a reference for your assignment* APA is required for this assignment and will be graded out of 5 points. If APA is not used, 5 points will be deducted from the assignment. Proper citation, referencing and material integration is required. Copying and pasting ANY material from ANY source, including the textbook will receive a score of zero. Please note that APA style includes components such as: title page, abstract and reference page. Spelling and grammar will be assessed out of 3 point. This includes sentence structures, fluency, typos, and overall grammatical errors. Scholarly and academic writing is expected at this level and will be taken into account for assessment. Organization and structure will be assessed out of 2 point. This includes tone, flow, format and appearance. Point Breakdown 30 Points- Justification and Accuracy of Answers (research, opinion, point articulation) 5 Points- APA (abstract, title page, running head, citation, reference page) 3 Points- Spelling and Grammar (typos, grammar style, tone, flow) 2 Points- Organization and Structure (introduction, body, conclusion) Over the past 5 years, the real estate industry has experienced some major shifts of demand and supply with residential housing. As a result of these shifts, price and quantity have been affected. Please explain how demand and supply of residential housing has affected the price and quantity for both buyers and sellers. Be specific with your answer if you are referring to a specific city and state within the United States. * Graphs are not required for this particular question. Section 2: Comprehensive (40 points) IN  YOUR OWN WORDS, please define, describe and use an example for each of the follow terms (see below). Each definition (including example) should be no more than 50 words. The following rubric is used to assess each term: 5 Points -Description of term (in your own words) 5 Points - Integration of example 1) Law of Demand 2) Substitutes 3) Complements 4) Price Floor .

1. The following assignment is divided into two sections. Section
1: Application; Section 2: Comprehensive. The assignment must
be submitted in ONE word document.
Section 1: Application (40 Points)
Please answer the following question by integrating research,
examples and opinion. Your answer should be no less than 300
words in length. The assignment is worth 40 points. It is
important that your answer is justified and supported with
substantial research, examples and opinion. A brief introduction
and conclusion should be included in your answer. 30 points is
allocated to justification and accuracy of your answer (the use
of 2-3 academic resources is required).*wikipedia is not
accepted as a reference for your assignment*
APA is required for this assignment and will be graded out of 5
points. If APA is not used, 5 points will be deducted from the
assignment. Proper citation, referencing and material
integration is required. Copying and pasting ANY material from
ANY source, including the textbook will receive a score of
zero. Please note that APA style includes components such as:
title page, abstract and reference page.
Spelling and grammar will be assessed out of 3 point. This
includes sentence structures, fluency, typos, and overall
grammatical errors. Scholarly and academic writing is expected
at this level and will be taken into account for assessment.
Organization and structure will be assessed out of 2 point. This
includes tone, flow, format and appearance.
Point Breakdown
30 Points- Justification and Accuracy of Answers (research,
opinion, point articulation)
5 Points- APA (abstract, title page, running head, citation,
reference page)
3 Points- Spelling and Grammar (typos, grammar style, tone,
flow)
2 Points- Organization and Structure (introduction, body,
conclusion)

2. Over the past 5 years, the real estate industry has experienced
some major shifts of demand and supply with residential
housing. As a result of these shifts, price and quantity have
been affected.
Please explain how demand and supply of residential housing
has affected the price and quantity for both buyers and sellers.
Be specific with your answer if you are referring to a specific
city and state within the United States. * Graphs are not
required for this particular question.
Section 2: Comprehensive (40 points)
IN YOUR OWN WORDS, please define, describe and use an
example for each of the follow terms (see below). Each
definition (including example) should be no more than 50
words.
The following rubric is used to assess each term:
5 Points -Description of term (in your own words)
5 Points - Integration of example
1) Law of Demand
2) Substitutes
3) Complements
4) Price Floor