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Class Real Estate Test > Chapter 15 > Flashcards

Chapter 15 Flashcards

1
Q

Four factors of production

A

Land, labor, capitol & entrepreneurial ability

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2
Q

Supply & demand in residential market

A

Vacancy ratio (is a good indicator of supply and demand)

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3
Q

Real estate market

A

Local in Nature

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4
Q

Highest& best use

A

Site as vacant vs. improved and legal use

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Class Real Estate Test (19 decks)

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