\fQUESTION 1 Due to urbanisation the demand houses in Klang area surge tremendously. With there situation there is less increase in the supply of houses, analyze the housing price with the guide of curves. Suggested answer: .;. In the diagram the supply curve will be inelastic and demnad curve will be elastic. so Demand curve will shift to right. Show the changes in price and quantity QUESTION 2 Based on question 1, what would be effect of housing price in short run and long run in the event the demand is keep on in increase. Suggested answer: 6* Short run - supply curve inelastic (reason) and demand curve elastic - DD curve shift to right. Show the changes in price a. Long run - supply curve elastic (reason) and demand curve elastic - DD curve shift to right. Show the changes in price QUESTION 3 Government Intervention in Markets: 1. Explain about free market - need curve - draw DD and SS curve. Do explanation