Question: 1. In order to provide competitive bids in the construction industry, how important is it for a contractor like Mark Wheeler to know his labor

1. In order to provide competitive bids in the construction industry, how important is it for a contractor like Mark Wheeler to know his labor costs and costs of materials? Why is this knowledge so important to a contractor who builds and modifies items for homes and businesses?
2. What effect do the business cycle and the general economy have on the construction industry? Explain how a change in home and property values has an impact on people in the construction industry.

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