100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
REAL 4000 Test 2 (UGA Martin) Exam Questions With Correct Answers $11.49   Add to cart

Exam (elaborations)

REAL 4000 Test 2 (UGA Martin) Exam Questions With Correct Answers

 4 views  0 purchase
  • Course
  • UGA REAL 4000
  • Institution
  • UGA REAL 4000

REAL 4000 Test 2 (UGA Martin) Exam Questions With Correct Answers Two real estate markets - answerthe market for land and the market for space the market for land - answerthe market where those who supply space compete with each other for locations the market for space - answerthe market where...

[Show more]

Preview 2 out of 9  pages

  • August 29, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • UGA REAL 4000
  • UGA REAL 4000
avatar-seller
Thebright
©THEBRIGHT EXAM STUDY SOLUTIONS 8/21/2024 1:28 PM



REAL 4000 Test 2 (UGA Martin) Exam
Questions With Correct Answers

Two real estate markets - answer✔✔the market for land and the market for space

the market for land - answer✔✔the market where those who supply space compete with each
other for locations

the market for space - answer✔✔the market where property owners compete with each other for
users of space

submarkets - answer✔✔single, multifamily, office, retail, industrial, hospitality

demand - answer✔✔the value of urban land is almost completely determined by _____?

fixed - answer✔✔supply is essentially

location - answer✔✔what determines the demand for a particular piece of land?

access - answer✔✔demand for a location is primarily a demand for _____?

pay the most - answer✔✔developers compete for land with the best offers access to a large
population and the developer that wins ________

who is willing to pay the most? - answer✔✔the one whose users place the highest value on the
site, and the one with the ability to offset the high cost of the land

offset the high cost of land - answer✔✔use less of it by building upwards

Factor substitution - answer✔✔substitute building materials for land

competitive advantage of building upwards - answer✔✔office building, apartments, hotels can
but factories and warehouses cant

vertical space - answer✔✔occupies most costly sites, most dense development, they become
more desirable because more people live there

city - answer✔✔a location where the density of economic activity is significantly greater than it
is in the surrounding area

, ©THEBRIGHT EXAM STUDY SOLUTIONS 8/21/2024 1:28 PM
industry economies of scale - answer✔✔average production cost falls as quantity supplied
increases.

small firms - answer✔✔large firms are better than

optimal industry structure - answer✔✔involves fewer larger firms rather than many small firms

agglomeration economies - answer✔✔individual firm becomes more efficient when it is located
close to other firms (localization or urbanization)

localization economies - answer✔✔Individual firm becomes more efficient as the size of the
local industry increases. Industry clusters

urbanization economies - answer✔✔individual firm becomes more efficient as the size of the
city that is located in increases. firms are more efficient in larger cities than in smaller ones

causes of localization economies - answer✔✔lower input prices, support of specialized services,
more effect labor market matching, learning and innovation

lower input prices - answer✔✔large local industry presence input suppliers to locate nearby.
lower transport costs lead to lower input prices

support of specialized services - answer✔✔large local industry presence creates a large enough
local market to enable providers of specialized services to locate nearby. increases the quality of
the services provided

more efficient labor market matching - answer✔✔large shared demand for similar skills draws
workers with those skills to the city. easier for workers to find jobs. easier for firms to fill
vacancies

learning and innovation - answer✔✔workers learn from friends and neighbors who do similar
jobs. learn how to do their jobs better. more innovation

causes of urbanization economies - answer✔✔greater innovation/entrepreneurial activity,
consumer externalities (congestion will eventually kick in)

consumer externalities - answer✔✔larger cities provide a more complete array of goods and
services than smaller cities. consumers are more likely to find exactly what they are looking for

basic premise - answer✔✔the long run economic fortunes of a city are most dependent on the
performance of those employers who trade with other local economies

economic base - answer✔✔those employers located within a city whose trade area extends
beyond the local economy. by trading with other local economy that is spent and re-spent an
generates a multiplier effect

service employers - answer✔✔employers whose trade area is limited to the local economy

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Thebright. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82215 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.49
  • (0)
  Add to cart