Question

ECONOMICS- A family is trying to sell their home at point 2 on the graph.

How might this affect the sale of their home? Check all that apply.

1. Their home will likely sell for a low price.
2. Their home will likely sell for a high price.
3. Their home will likely take longer to sell.
4. Their home will likely increase in value if they wait.
5. Their home will likely sell quickly.

Answer 1

Answer: 1, 3, 4

Step-by-step explanation:

Answer 2

1, 3, and 4 are true. it really depends on a lot of things, but if the economy is bad, people won't have much money, so the price they can afford will go down. banks would also be less willing to lend larger amounts. 3 depends on if they change their price- if they have the same price as at point 1 or 3, then yes. then, with 3, if the economy is better then wages are up and people have more money to spend (opposite of 1)