Real Estate Economics
43 Questions
| Attempts: 2123
Questions and Answers
- 1.
The application of economic techniques to real estate markets.
- A.
Real Estate Economics
- B.
Market Study
- C.
Project Feasibility Study
Correct Answer
A. Real Estate Economics -
- 2.
These people prepare raw land for development and improvement whichresults in new product for the market.
- A.
Facilitators
- B.
Developers
- C.
Bankers
Correct Answer
B. Developers -
- 3.
These people supply refurbished buildings to the market.
- A.
Developers
- B.
Broker
- C.
Renovators
Correct Answer
C. Renovators -
- 4.
These people are both owners as well as tenants. They purchase houses orcommercial property as an investment and also to live in or utilize as a business.
- A.
Owner/User
- B.
Owners
- C.
Tenants
Correct Answer
A. Owner/User -
- 5.
These people are pure investors. They do not consume the'real estate thatthey purchase. Typically they rent out or lease the property to ""someone else.
- A.
Owner/User
- B.
Tenants
- C.
Facilitators
Correct Answer
B. Tenants -
- 6.
This includes banks, Real Estate Brokers, lawyers, and others that facilitatethe purchase and sale of real estate.
- A.
Marketing Department
- B.
Project developer
- C.
Facilitators
Correct Answer
C. Facilitators -
- 7.
The owner/user, owner, and renter comprise what side of the market?
- A.
Demand
- B.
Supply
- C.
Equilibrium
Correct Answer
A. Demand -
- 8.
9. The developers an renovators comprise what side of the market?
- A.
Demand
- B.
Supply
- C.
Equilibrium
Correct Answer
B. Supply -
- 9.
Real estate market characteristic that that denotes that every piece of realestate is unique, in terms of its location, in terms of the building, and in terms ofits financing.
- A.
Long Time Delay
- B.
Immobility
- C.
Heterogeneous
Correct Answer
C. Heterogeneous -
- 10.
Characteristic of real estate market that denotes that a building can last fordecades or even centuries, and the land underneath it is practicallyindestructible.
- A.
Durability
- B.
Immobility
- C.
Hetergeneneous
Correct Answer
A. Durability -
- 11.
What real estate market characteristic denotes that consumers come to thegood rather than the good going to the consumer?
- A.
Long Time Delay
- B.
Immobility
- C.
High Transaction Cost
Correct Answer
B. Immobility -
- 12.
The main determinants of the demand for housing are?
- A.
Market
- B.
Need
- C.
Demographics
Correct Answer
C. Demographics -
- 13.
In housing economics, the elemental unit of analysis is
- A.
One household per house
- B.
Family
- C.
Barangay
Correct Answer
A. One household per house -
- 14.
For many people, will be the most costly item they will ever buy.
- A.
Jewelry
- B.
Real estate
- C.
Complete education
Correct Answer
B. Real estate -
- 15.
Is produced using land, labor, and various inputs such aselectricity and building materials.
- A.
housing demand
- B.
Housing credit
- C.
Housing supply
Correct Answer
C. Housing supply -
- 16.
In economics, is a revealed preference method of estimating demand orvalue
- A.
Hedonic regression
- B.
Highest & best use
- C.
Market analysis
Correct Answer
A. Hedonic regression -
- 17.
Although land is not thought of as a rare commodity, the total supply of landis fixed
- A.
Immobility
- B.
Scarcity
- C.
Heterogeneous
Correct Answer
B. Scarcity -
- 18.
The construction of a building on one parcel of land has an effect on thevalue and utilization of neighboring tracts of land and can have a big bearing onthe whole community.
- A.
Accessory
- B.
Conformity
- C.
Improvements
Correct Answer
C. Improvements -
- 19.
Once a land is developed and improved, the capital and labor that went intothe improvement represents a large fixed investment.
- A.
Permanence of investment (fixity)
- B.
Area preference (situs)
- C.
Improvements
Correct Answer
A. Permanence of investment (fixity) -
- 20.
The most important economic characteristics of land.
- A.
Scarcity
- B.
Area preference
- C.
Fixity
Correct Answer
B. Area preference -
- 21.
Stance of land is removable and that topography can be changed, but thegeographical location of any given parcel/of land can never be changed.
- A.
Scarcity
- B.
Fixity
- C.
Immobility
Correct Answer
C. Immobility -
- 22.
This permanence of land coupled with the long-term nature of improvementsconstructed on it, has tended to stabilize investment in land.
- A.
Indestructibilty
- B.
Fixity
- C.
Uniqueness
Correct Answer
A. Indestructibilty -
- 23.
The very unique characteristic of land is referred to as its
- A.
Indestructibilty
- B.
Non-homogeneity
- C.
Fixity
Correct Answer
B. Non-homogeneity -
- 24.
The property must be needed or wanted by someone who has thepurchasing power to obtain it.
- A.
Supply
- B.
Scarcity
- C.
Demand
Correct Answer
C. Demand -
- 25.
The property must have a useful purpose or satisfy a need. The more usefula property is the more likely someone will pay for it.
- A.
Utility
- B.
Scarcity
- C.
Supply
Correct Answer
A. Utility -
- 26.
The type of property must have some degree of rareness. This refers to thesupply of similar property in relation to the demand for it...
- A.
Uniquenes
- B.
Scarcity
- C.
Utility
Correct Answer
B. Scarcity -
- 27.
The ability to transfer title to the property to someone else.
- A.
Vulnerability
- B.
Non-homogeneity
- C.
Transferability
Correct Answer
C. Transferability -
- 28.
The value of a property tends to coincide with value indicated by the actionsof informed buyers in the market for comparable properties.
- A.
Substitution
- B.
Changes
- C.
Balance
Correct Answer
A. Substitution -
- 29.
Scarcity influences supply.
- A.
Surplus productivity
- B.
Demand & supply
- C.
Balance
Correct Answer
B. Demand & supply -
- 30.
Today evolved out of yesterday and is the shadow of tomorrow.
- A.
Highest & best use
- B.
Surplus productivity
- C.
Change
Correct Answer
C. Change -
- 31.
Maximum value of land is created and maintained in proportion to theequilibrium (balance) in the amount (contribution) of the four agents in theproduction.
- A.
Highest & Best Use
- B.
Housing economics
- C.
Surplus Productivity
Correct Answer
A. Highest & Best Use -
- 32.
Excess usually results in over improvement, deficiency under improvement.
- A.
Highest & best use
- B.
Surplus Productivity
- C.
Housing economic
Correct Answer
B. Surplus Productivity -
- 33.
The application of larger and larger amounts of the agents in production willproduce greater and greater net income up to a point of excess.
- A.
Surplus productivity
- B.
Highest & best use
- C.
Creasing & increasing & decreasing returns.
Correct Answer
C. Creasing & increasing & decreasing returns. -
- 34.
It is as pointed out, a corollary of the principles of surplus productivity as itrelated to the proportioning of the agents in production.
- A.
Contribution
- B.
Surplus productivity
- C.
Highest & best use
Correct Answer
A. Contribution -
- 35.
Tends to dissipate and major portion of an excess profit although some partmay remain and contribute to an increased land value.
- A.
Contribution
- B.
Competition
- C.
Distribution
Correct Answer
B. Competition -
- 36.
Highest and best use will usually conform to essential and permissible land used.
- A.
Distribution
- B.
Competition
- C.
Anticipation
- D.
None of the above
Correct Answer
A. Distribution -
- 37.
Affirms the definitions that value is the worth of all present and future benefitsarising from ownership and use of real property.
- A.
Conformity
- B.
Competition
- C.
Anticipation
Correct Answer
C. Anticipation -
- 38.
One major Categories of the nature of Real Estate:
- A.
Economic
- B.
Physical
Correct Answer
A. Economic -
- 39.
Four Factors that create value of real estate:DEMANDUTILITYSCARCITYTRANSFERABILITY
- A.
Demand
- B.
Utility
- C.
Scarcity
- D.
Transferability
Correct Answer
A. Demand -
- 40.
Affirms the definitions that value is the worth of all present and future benefits arising from ownership and used of real property
- A.
Antipation
- B.
Both
Correct Answer
A. Antipation -
- 41.
Value of a property is not established by what is sold for in the part not thecost to create.
- A.
True
- B.
False
Correct Answer
A. True -
- 42.
Value of a property is not established by what is sold for in the part not thecost to create.
- A.
True
- B.
False
Correct Answer
B. False -
- 43.
50.Value of an over improvement sometimes reaches (progresses) toward thevaluel4 conforming properties.
- A.
True
- B.
False
Correct Answer
A. True -
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Jul 30, 2011Quiz Edited by
ProProfs Editorial Team -
Mar 24, 2011Quiz Created by
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