Location:
Japan is an island located in the east Asia region. The location of Japan is surrounded by the Pacific Ocean on its north and east side. On the south, Japan is bordered by the Philippine Sea and East China Sea. On the west, Japan is bordered by the Sea of Japan.
Meanwhile, the United States is located in the North america region. On the west, US is bordered by the Pacific Ocean and on the east it is bordered by the Atlantic Ocean. On the north, it is bordered by Canada and on the south it is bordered by Mexico.
Meanwhile, the United States is located in the North america region. On the west, US is bordered by the Pacific Ocean and on the east it is bordered by the Atlantic Ocean. On the north, it is bordered by Canada and on the south it is bordered by Mexico.
Size:
Japan Size: 145,925 miles
Comparison to the US: Japan is a little smaller than California. United States size is 3.806 million miles.
Comparison to the US: Japan is a little smaller than California. United States size is 3.806 million miles.
Population:
Japan's Population: 127.3 million people
United State's Population: 318.9 million people
This means that the US has more people that Japan.
This relates to the economic concept of shifts in the demand curve(population), elasticity of demand, and supply and demand. From the data I collected about the size and population of both countries, I was able to find the approximate people per square mile in both countries. In Japan, there is about 349 people per square mile. In the United States, there is about 35 people per square mile.
This effects the supply and demand of the size of houses. In Japan, there is most likely more supply and higher demand for smaller houses since there are a lot more people in a limited amount of space.
This also effects shifts in a demand curve because the population is a lot higher in Japan in terms of people per square mile so since Japan's population per mile is high, the demand for smaller houses is high.
This connects to elasticity of demand because in Japan there is inelasticity of demand for houses because people are willing to pay more for a house, even if it is small, because there aren't many options since so many people are living in a small place.
In the United States there is most likely more supply and higher demand for bigger houses since there is a lot more space for everyone.
This also effects shifts in a demand curve because the population is a lot lower in the US in terms of people per square mile so since the United State's population per mile is low, the demand for bigger houses is high.
This connects to elasticity of demand because in the US there is less inelasticity of demand for houses because people aren't willing to pay more for a house if it is unreasonable with the size of the house (i.e. $300,000 for a one story house) because there are more options since fewer people live in spread out place.
United State's Population: 318.9 million people
This means that the US has more people that Japan.
This relates to the economic concept of shifts in the demand curve(population), elasticity of demand, and supply and demand. From the data I collected about the size and population of both countries, I was able to find the approximate people per square mile in both countries. In Japan, there is about 349 people per square mile. In the United States, there is about 35 people per square mile.
This effects the supply and demand of the size of houses. In Japan, there is most likely more supply and higher demand for smaller houses since there are a lot more people in a limited amount of space.
This also effects shifts in a demand curve because the population is a lot higher in Japan in terms of people per square mile so since Japan's population per mile is high, the demand for smaller houses is high.
This connects to elasticity of demand because in Japan there is inelasticity of demand for houses because people are willing to pay more for a house, even if it is small, because there aren't many options since so many people are living in a small place.
In the United States there is most likely more supply and higher demand for bigger houses since there is a lot more space for everyone.
This also effects shifts in a demand curve because the population is a lot lower in the US in terms of people per square mile so since the United State's population per mile is low, the demand for bigger houses is high.
This connects to elasticity of demand because in the US there is less inelasticity of demand for houses because people aren't willing to pay more for a house if it is unreasonable with the size of the house (i.e. $300,000 for a one story house) because there are more options since fewer people live in spread out place.