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Article Review in elasticity of demand/supply/income/cross-price - Admission/Application Essay Example

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The title of the article is, Palm Beach Real Estate listings by Top Florida Company (Rescue Real Estate Company) lowered in sale price by 2014. It was…
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Article Review in elasticity of demand/supply/income/cross-price
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Article Review in elasticity of demand/supply/income/cross-price

Download file to see previous pages... This reduction of marketing prices is in addition to the several new pricing policy changes of the company. The main aim of doing so is to increase sales which have been low recently. This targeted increment in sales will be achieved since the lowered prices are expected to attract more of the organization’s owned homes and properties under the contract for sale. As per one of company’s source, the lowering of the company’s listings in prices during the year is part of its strategy to ensure that the dream of acquiring a home is realized for more people. A lot of people long to buy themselves their personal homes but this dream is hindered by the high prevailing market prices. This will no longer be a hindrance because the company listings have already been lowered making them affordable.
In the article, the author is trying to inform the reader how Palm Beach Real Estate has lowered the prices of its listings with the hope of increasing the company’s sales. The lowered prices are intended to directly affect the decisions of the purchasers since they will be viewed as fair deals (Marcia, 2014). This will increase the demand of real estate by individuals as they will be affordable to many. It is not easy to tell whether this will be achieved. But based on the information that previously the sales were low due to high prices, this movement is likely to increase the sales of the company due to reduced prices of the listings. This is a good example of price elasticity of demand. That is, when the price of a normal good reduces, its demand increases and if the price increases, the demand reduces. This is very true because houses are a normal and basic good to individuals. If their prices are high, their demand will reduce and the reverse is true.
In my own opinion the author did a good job in this article. He delivered his information clearly and straight to the point in just a single page. He reviewed the recent performance of the company and what caused ...Download file to see next pagesRead More
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