Unit 1 :California Diversity

Question 1

What is capitalism

Answer 1

An Economic system in which most of the economy’s resources are privately owned

Question 2

What is Networth

Answer 2

The values of all assets minus all liabilities

Question 3

What is appreciation

Answer 3

The increase in market value of real estate

Question 4

What is inflation

Answer 4

The increase in general price level of goods and services

Question 5

What is Median Home Price

Answer 5

The Price that is middle value of a sample of sales, with one-half of the sales below and one-half of the sales above

Question 6

What is demographic

Answer 6

Information from a variety of sources used to create a broad profile of any community

Question 7

What is the gold rush

Answer 7

A large migration of people to a Newley discovered gold field.

Question 8

What is housing inventory

Answer 8

Housing units that are available for sale or in the process of being made ready for sale

Question 9

What is C.A.R.

Answer 9

A California trade association representing REALTORS statewide

Question 10

What is unemployment rate?

Answer 10

The percentage of the people classified as unemployed as compared to the total labor force

Question 11

California economy is so large that it actually competes with ?

Answer 11

Countries

Question 12

The most popular state in the country is?

Answer 12

California

Question 13

A large, Densely populated metropolitan area consisting of a number of major urban areas and smaller surrounding cities is called a

Answer 13

Megalopolis

Question 14

An economic system in which most of the economy’s resources are privately owned and managed is called

Answer 14

Capitalism

Question 15

The increase in market value of real estate defines?

Answer 15

Appreciation

Question 16

A decrease in purchasing power of the dollar describes

Answer 16

Inflation

Question 17

The real estate market is influenced by?

Answer 17

1. The inventory of available housing
2. The affordability of housing
3. Mortgage interest rates.

Question 18

The best housing market would be created by?

Answer 18

1. Adequate housing inventory.
2. A high affordability index.
3. Low interest rates

Question 19

The price that is middle value of a sample of sales, with one half of the sales below and one half of the sale above is called?

Answer 19

Median home price

Question 20

Im California, to work as a real estate salesperson or broker you must have

Answer 20

A real estate license issued by the California Bureau of Real Estate.