Essentials Of Real Estate Economics Midterm Exam - Chapters 1 - 8 1.
Economics is a social science that is concerned with how individuals and societies choose to use scarce _______________. (a) employment (b) output (c) resources (d) income
2.
In general, the demand for goods and services frequently exceeds the supply. (a) True (b) False
3.
Macroeconomics is the study of the economics of individual businesses and households: (a) true (b) false
4.
Real estate economics draws __________ form both general economics and real estate practice: (a) conclusions (b) principles (c) data (d) findings
5.
Economists may offer suggestions for change and may forecast trends: (a) true (b) false
6.
Real estate economics is not important on a day-to-day basis: (a) true (b) false
7.
Real estate economics does not specifically address real estate values: (a) true (b) false
8.
Economics is a(n) _______ science. (a) familiar (b) exact (c) precise (d) inexact
© Cengage Learning
1