Principles of Real EstateCâu 24 / 120
Which of the following BEST describes the economic characteristic of real estate known as 'scarcity'?
a.Land can be moved to where demand is highest
b.All parcels of land are exactly alike
c.The total supply of land is limited relative to demand
d.Land improvements never wear out
Giải thích
Scarcity refers to the limited supply of land relative to population and demand, which supports its economic value. Physical characteristics of land include immobility, indestructibility, and uniqueness (non-homogeneity).
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Title insurance protects the insured party against:
- The process by which the government can take private property for public use, upon payment of just compensation, is:
- When a person dies owning property with no valid will and no locatable heirs, the property may pass to the state through:
- Zoning ordinances, building codes, and health regulations are all examples of the government's:
- A physical intrusion of a structure, such as a fence or roof overhang, onto a neighboring property is a(n):
- Private restrictions placed in a deed or subdivision documents that limit how owners may use their lots are commonly called:
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với Texas Real Estate Sales Agent Licensing Exam · Quy trình kiểm tra