Question

Your neighbors build a high-quality addition to their home, increasing its value compared to your own home's value. because of this, you notice a bump in your property value. which economic principle is at work here

Answer 1

The economic principle is at work here regarding the house is known as progression.

What is an economic principle?

It should be noted that economic principle simply means the laws and theories that explain and economic situation.

In this case, the economic principle is at work here regarding the house is known as progression.

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