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Cal Real Estate Principles > Unit 1 California diversity > Flashcards

Unit 1 California diversity Flashcards

1
Q

What is Capitalism?

A

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

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2
Q

What is Net worth?

A

The value of all assets minus all liabilities

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3
Q

What is Appreciation?

A

The increase in market value of real estate

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4
Q

What is Inflation?

A

The increase in the general price level of goods and services.

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5
Q

What is Median home price?

A

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.

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6
Q

What is Demographic ?

A

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

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7
Q

What is Gold Rush?

A

A large migration of people to a Newley discovered Gold field

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8
Q

What is housing inventory?

A

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

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9
Q

What is C.A.R?

A

A California trade association representing REALTORS statewide

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10
Q

What is Unemployment Rate?

A

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

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11
Q

California economy is so large that it competes with ?

A

Countries

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12
Q

The most popular country is?

A

California

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13
Q

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

A

Megalopolis

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14
Q

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

A

Capitalism

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15
Q

The increase in market value of real estate defines

A

Appreciation

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16
Q

A decrease in purchasing power of the dollar describes

A

Inflation

17
Q

The real estate housing market is influenced by

A
  1. The inventory of available housing
  2. The affordability of housing
  3. Mortgages interest rates
18
Q

The best housing market by

A
  1. adequate housing inventory
  2. high affordability index
  3. Low interest rates
19
Q

The price that is middle value of sales, with one- half of the sales below and one half of the sales above is called

A

Median home price

20
Q

In California to work as a real estate sales person or broker you must have ?

A

A real estate license issued by the California Bureau of real estate

Cal Real Estate Principles (3 decks)

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