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RE Economics

Total questions: 12

Worksheet time: 12mins

Name
Class
Date
1.

The application of economic techniques to real estate markets which tries to describe,

explain, and predict patterns of prices, supply, and demand is called:

a)

Economics

b)

Economics and Finance

c)

Real Estate Economics

d)

Real Estate Finance

2.

The desirability of the economic utility of the property is known as:

a)

Economic Life

b)

Economic Value

c)

Economic Utility

d)

Economic Obsolescence

3.

Few seller, multiple buyers

a)

Monopoly

b)

Oligopoly

c)

Monopsomy

d)

Oligopsony

4.

Many seller and buyers; price is at its lowest.

a)

Perfect Market

b)

Imperfect market

c)

Monopsomy

d)

Monopoly

5.

This is a market condition where there are more buyers than properties for sale.

a)

Buyers'market

b)

Seller's Market

c)

Open Market

d)

Property Market

6.

Refers to the act of buying an under priced property and then quickly reselling it at

market value:

a)

Flipping

b)

Bird dogging

c)

Fast Break

d)

Brokering

7.

Economic Utility refers to the capacity to satisfy wants, production by labor and their:

a)

Exchangeability

b)

Scarcity

c)

Transferability

d)

Uniqueness

8.

Refers to land located in the fringes of built up communities which has the provincial

characteristics but is favoured with metropolis utilities, facilities and amenities.

a)

Rural Subdivision

b)

Urbanized subdivision

c)

Urbanized land

d)

Suburban subdivision

9.

The Gross Income Multiplier is a factor derived from comparable properties and applied

to expected rental income to estimate

a)

value

b)

an established cost

c)

a gross income

d)

a known price

10.

These refer to the changes that result when wealthier people acquire or rent property in

low income and working class communities.

a)

gentrification

b)

Progression

c)

Regression

d)

Competition

11.

the amount of space or units occupied within a market over a given period of time, typically one year

a)

absorption

b)

landbanking

c)

gentrification

d)

urbanised

12.

the practice of aggregating parcels of land for future sale or development.

a)

Landbanking

b)

gentrification

c)

urbanizing

d)

real estate development