Home Economics

Worksheet Description

This worksheet, “Inventory Size and Price,” asks students to examine various housing market scenarios and determine whether they illustrate a situation of high or low supply and demand, and to predict if the price of houses is likely to be high or low. The scenarios range from a small town with many houses but little interest from buyers to a bustling city with high demand for new housing developments. It presents different real-estate market conditions such as popular new developments, remote rural offerings, construction booms, and the effects of a recession. Students must use their understanding of supply and demand to deduce the likely price outcomes in each situation.

“Home Economics – Housing Market Analysis” is designed to impart practical knowledge about how the supply and demand principle applies to real-life situations, specifically within the housing market. By engaging with this worksheet, students learn to identify the factors that influence housing prices, such as availability, buyer interest, and broader economic trends. They are taught to assess how shifts in supply and demand can lead to changes in prices, which is a critical skill for understanding economic fluctuations and real estate dynamics. Furthermore, this exercise provides students with a foundational understanding of how economic principles impact daily life and large-scale financial decisions.