Real Estate Ch. 5 – Flashcards

The 'gravity' that draws economic activity into a cluster is: a. common laws and regulations b. common language c. demand for access or proximity d. cost of land e. streets

Spatial or distance relationships that are important to a land use are called its: a. linkages b. agglomerations c. facets d. dimensions e. attractions

Cities tend to grow where: a. transportation modes intersect or change b. transportation is uninterrupted c. people are concentrated d. there is ample land and energy e. there is demand for economic goods

The economic base multiplier of a city tends to be greater if the city is: a. larger b. older c. less isolated from other cities d. newer e. less diversified

The best example of a base economic activity would be a: a. supermarket b. department store c. fire department d. large apartment complex e. regional sales office

Important supply factors affecting a city's growth or growth potential include all of the following except the: a. unemployment rate b. business leadership c. presence of any industry economies of scale d. labor force characteristics e. education system

Which of these are true about agglomeration economies? a. they result from demand created by multiple industries b. they create a readily available supply of highly specialized goods and labor c. they tend to reduce risks in real estate d. they occur in larger cities e. all of the above

Which of these influences will decrease the level of a bid-rent curve at the center of the city? a. faster travel time b. higher average wage rate c. increased number of trips per household d. larger number of households bidding. e. none of the above.

In a system of bid-rent curves, assuming that households are identical except for a feature noted, which of these prospective bidders will bid successfully for the sites nearest to the CBD? a. households with the greatest number of commuting workers. b. households with the lowest income c. households with superior means of transportation d. households that drive in the city last e. households requiring more land

A large university is an example of what kind of economic phenomenon? a. convenience activity b. comparison activity c. industry economies of scale d. secondary or local economic activity e. quality of life activity