Identify and explain the main government economic policies that can be used to stimulate demand for private housing in the UK
Jonathan. K. Kush is the lead business writer at 123 Writing. He holds a BA (Hons) degree in Business Administration from the University of Brighton, UK. As a Market Research Analyst by profession, Jonathan has nearly a decades experience in market research and business analysis. His passion includes studying markets and industry trends to understand their impact on company strategy, performance and ways firms can mitigate their environment to outcompete rivals.
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In economics, there are generally certain principle factors that can shift the demand curve for products or services. Some of them include changes in income, changes in tastes or preferences etc. Governments also have economic instruments or policies they can use to stimulate demand. In the case of private housing, the UK government can use certain economic policies to stimulate the demand for private housing. In this essay, we take a look at some these policies.
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Task two (1500words)
Identify and explain the main government/ economic policies that can be used to stimulate the demand for private housing in the UK.
Some of the main economic policies to include are; interest rates, stamp duty, right-to-buy schemes/affordable home ownership schemes, planning permissions/ green belt land, etc., This is not an exclusive list.
Key Learning Outcomes
By the end of assessment task one, students should be able to:
- Understand factors that shift the demand curve for products or services.
- Identify some of the economic instruments the UK government can use to stimulate demand for housing in the UK.
- Apply hypothetical and/or real-world situations that occur in economics.
1.0 INTRODUCTION
In economics, there are generally certain principal factors that can shift the demand curve for products or services. Some of them include changes in income, changes in tastes or preferences, etc. Governments also have economic instruments or policies they can use to stimulate demand. In the case of private housing, the UK government can use certain economic policies to stimulate the demand for private housing. In this essay, we take a look at some of these policies.
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