Question

Bob Bungler, owner of Bungler Appraisals, has received an assignment to appraise a property located in a small town that has one large employer, the Wile E. Coyote Advertising Agency, Inc. Wile E. Coyote employs a very large number of local residents. Bob just read in the paper that the advertising firm is planning to move their offices and video productions to a distant larger metropolitan area over 500 miles away resulting in significant local layoffs which will have a serious impact on the local economy based on this valuation principlea. Principle of Supply and Demand b. Principle of Substitution c. Principle of Anticipation d. Principle of Competition

Answer 1

Answer:

(A) Principle of Supply and Demand

Explanation:

In economic theory, the law of the organic market is viewed as one of the significant standards administering an economy. It is depicted as the state though supply expands the cost will in general drop or increase, and as request builds, the price will in general increment or the other way around. The increase in demand is equivalent to moving the blue line to one side. A model would be twice the same number of clients needing to purchase the item because of good verbal exchange and promoting.