Thursday, February 7, 2013
1. Which statement is most accurate in regards of the Bid-Rent Curve?
A) The further away from the CBD the higher the value.
B) The further away from the CBD the lower the value.
C) The Bid Rent Curve is not based on land value and distance
D) Transportation cost has no effect on the Bid-Rent Curve.
2. Which relationship best defines the basic concept discovered by early economist Von Thunen?
A) Accessibility, Land Rent, Land value
B) Land Rent, Accessibility
C) Land value, Accessibility
D) Land Rent.
3. What is Spatial Economics?
A) The study of economic relationships over space.
B) The legally recognized rights associated with the ownership of real estate.
C) The purchase of real estate motivated by the potential for financial gain.
D) An investment in real estate with the expectation of enjoying significant investment returns through appreciation.
4. Transportation cost can play a vital role when purchasing a property? T/F
5. Land Value Gradient is the relationship between property values and location? T/F
6. There is more than one type of urban growth model? T/F
7. There are numerous CBD’s in one given city? T/F
8. The multiple nuclei concept is an urban growth model? T/F