Real Estate Principles: Unit 1

Question 1

What is California’s basic climate?

Answer 1

Mediterranean.

Question 2

What are characteristics of a Mediterranean climate?

Answer 2

general sun and warmth with rain mainly in the winter.

Question 3

What are characteristics of a coastal climate?

Answer 3

Mild Temperatures with minor annual variations.

Question 4

Where does most of California’s population live?

Answer 4

Along the Coast.

Question 5

What are characteristics of a desert climate?

Answer 5

High summer temperatures, low humidity, and little rainfall.

Question 6

What are characteristics of a valley climate?

Answer 6

High temperatures, low humidity in the summer, and low temperatures and high humidity in the winter.

Question 7

What are the characteristics of a foothill climate?

Answer 7

(1,000 to 3,000 feet in elevation from sea level). Foothill climates are similar to valley climates with less fog and more rain.

Question 8

What are characteristics of a mountain climate?

Answer 8

Heavy snow in the winter, winters on mountains are very cold and summers are very bright and sunny.

Question 9

What is the economic system in America?

Answer 9

The economic system in America is a, “mixed capitalistic system”.

Question 10

Capitalism.

Answer 10

an economic system in which most of the economy’s resources are privately owned and managed.

Question 11

What rank is California’s economy in the world?

Answer 11

California’s economy is the twelfth (12th) largest economy in the world.

Question 12

What is Gross Domestic Product (GDP)?

Answer 12

The monetary value of all the finished goods and services produced within a country’s borders in a specific time period, though GDP is usually calculated on an annual basis.

Question 13

California generates how much of Americas gross domestic product?

Answer 13

13%

Question 14

(True or False). California is the nations number one exporting state.

Answer 14

True.

Question 15

California produces more than $____ of products and services every year.

Answer 15

$1 Trillion.

Question 16

What were the factors that primarily effected the early economy of California?

Answer 16

Agriculture, mining, and drill for oil and gas. Gold and silver mining brought wealth to northern California, and oil wells and black gold brought capital investment to southern California.

Question 17

Define Capital Investment.

Answer 17

Funds invested in a firm or enterprise for the purposes of furthering its business objectives. Capital investment may also refer to a firm’s acquisition of capital assets or fixed assets such as manufacturing plants and machinery that is expected to be productive over many years.