Intro Flashcards
1
Q
What is the NAR?
A
National Association of REALTORS®
2
Q
Site for the NAR?
A
www.Realtor.com
3
Q
International search engine for the association?
A
www.realtor.com/international
4
Q
What is a market?
A
A market is a place or an economic system where goods are bought and sold.
5
Q
The marketplace or economy, in a free market, is affected by?
A
supply and demand
6
Q
Prices rise as what increases?
A
Demand
7
Q
Prices drop as what increases?
A
Supply
8
Q
What are some of the major factors that affect Supply?
A
Labor Force
Construction Costs
9
Q
What are some of the major factors that affect Demand?
A
Population
Demographics
Earnings (income) and Employment
