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Economics Essay Questions: a) Explain why car prices have tended to remain stable despite rising demand. b) Discuss the view that house prices in the UK will inevitably fall in the next year. Economics Essay Answers: a) The reason why car prices has remained stable despite rising demand is that supply is elastic, supply can be changed quite easily so that any rise in demand can be matched by a rise in supply and basically the price stays the same as both curves shift to the right with the quantity demanded and the supply increased. Demand has increased due to a general higher amount in earnings of each individual. This is due to many reasons, one may be as computers become of more everyday use, more people have to be employed in that area of expertise and because they specialise they get paid more as they are in a larger demand than other...

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