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Description

This assignment is based on the following assignment description –
Scenario
The intention of this assignment is to carry out a research in the context of economics and the construction industry.
Task 1
“Construction industry teds to enter recessions first and it is often the last to recover”.
Discuss this statement with reference to fundamental economic concepts that underpin construction industry. To what extent does the rest of the economy depend on the construction Industry? Illustrate your answer with reference to the price fluctuations within national and local construction industry. (1000 words)
Task 2
Some economists agree that there are economic cycles. If you agree that they exist, analyse what drives them? Discuss if there is any good aspect of such cycles? Explain your position if they are necessary, and have to take their course on their own or governments should intervene to ease the effects? Discuss if anything should be done to reduce their effect on construction industry or not. (1000 words)
You should make reference to real-world situations where appropriate.