3. which is FALSE regarding relationship between price and demand?

increase in price causes increase in demand

5. Which is NOT TRUE regarding economic concept of demand?

availability of building materials influence demand

2. Which characteristic does NOT describe real estate market

market is quick to respond to changes in supply and demand

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Ch 15 Real Estate Market & Analysis 1% of state exam, 10 questions

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Questions 10

Answers

1
3. which is FALSE regarding relationship between price and demand?
inverse relationship between price & demand
decrease in price causes an increase in demand
increase in price causes decrease in demand
increase in price causes increase in demand
2
4. 280 apartments rented in 350-unit apt bldg. What is bldg occupancy rate?
.20
.70
.80
.85
3
7. One or more persons occupying a separate housing space is technically defined as a
multiple ownership unit
family
unit
household
4
1. which economic characteristic refers to locationpreference owing to various factors (climate, employment, schools)
situs
highest and best value
vacancy rates
sales volume
5
5. Which is NOT TRUE regarding economic concept of demand?
changes in price cause an inverse change in demand
demand is the desire & ability to purchase or lease goods & services
availability of building materials influence demand
consumer preferences influence demand
6
10. Factors affecting supply side of real estate market do NOT include availability of
land
mortgage credit
skilled labor
material
7
2. Which characteristic does NOT describe real estate market
real estate is heterogeneous
real estate is immoble
land is indestructable
market is quick to respond to changes in supply and demand
8
9. Durability of land refers to land's
indestructibility
immobility
situs
homogeneity
9
6. When equilibrium of real estate market is upset by an excess supply
demand decreases
a seller's market exists
builder activity increases in response to the need
a buyer's market exists
10
8. Uniqueness of real estate is also called land's
indestructibility
immobility
nonhomogenity
fixed location

Ch 15 Real Estate Market & Analysis 1% of state exam, 10 questions Flashcards | StudBud