Monday, February 14, 2011
1. The cost of gettiting from one place to another is:
A. Oppertunity Cost
B. Transportation Cost
C. Material Cost
D. Future Cost
2. Situs is defined as:
A. The important location characteristics of a site
B. The study of economic relationships over space
C. The central location for businesses in a town
D. The study of urban areas
3. What is the business and industrial composition of s regions local economy:
A. Urban Economics
B. Central Business District
C. Real Estate
D. Economic Base
4. The Central Business District is perminant and never changes its location.
T/F An example in the book shows us that the CBD can change its location in a city many times, such as Atlanta has.
5. In an opportunity cost you don't give something up when you persue a certain option.
T/F Opportunity cost is the options foregone when you persue a certian option.
6. The Central Business Districe can grow in many different forms and doesn't have to be circular.
7. Land use that produces the highest return or price to its owner is the highest and best use of the land.
8. Urban Economics is the study of economic relationships over space.
T/F Urban economics studies urban areas where as spatial economics studies economic relationships over space.