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Essay / Research Paper Abstract
This 4 page paper considers how a general economic forecast looking at GDP and inflation may be used by a builder to forecast demand for homes or industrial buildings. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEhoubuil.rtf
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Unformatted sample text from the term paper:
demand vary according to economic condition. However, the building industry is at a major disadvantage when compared to many other industries as there is a large lag between the start
of the supply chain and the sale of the product to the end user, this means that there is a higher level of importance attached to forecasting demand (Nellis and
Parker, 2000). If there is a downturn forecast in an economy then the demand for building, both resident and commercial is likely to fall as there will be less disposable
income to pay for either the purchase price and associated costs or the loan or mortgage payments that are funding the purchase. This can be a short term decision by
a potential purchaser, where there is a change of direction if there is a sudden fear of economic recession or less disposable income. For the builders there is a need
to start work many mothers before they know of the demand levels, they also have to purchase the input materials at the prices prevailing at this pre sale period. This
includes the price of land which may also fluctuate in line with supply and demand and se lower demand, and so have a lower price when the demand is less.
If we look at the predictions for the future we can start to draw some conditions that will help the building industry and predict the patterns that will be
seen. The predictions are that the GDP is going to increase at a stable but low rate. For example, where this is predicted at increasing by 3.03% there is the
expected growth in the gross domestic product. However some of this increase is going to be due to inflation. If inflation is expected to be 1.6%, as is seen with
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