Chapter 1 Questions

1.      Real estate is simply where humans gather together to be human. (T/F)

2.      The more efficient a market is, the less opportunity market participants have of making a profit. (T/F)

3.      The nodes in the real estate system of activities linked by markets can also be called market activities. (T/F)

4.      Real Estate Entrepreneurs manage, create and trade space. (T/F)

5.      Return to investors is not legally enforceable. (T/F)

6.      Which characteristic does NOT make the make the market inefficient?

a.       The uniqueness of the property

b.      There are more sellers than buyers in the market.

c.       A lack of information on properties

d.      No buyer or seller has too much power

7.      Which activity is NOT included in the trading and leasing process of a created space?

a.       Investing activity

b.      Entrepreneurial activity

c.       Consuming activity

d.      Successor Entrepreneurial activity

8.      What are some of the activity centers (in the real estate system of activities) that supply the need for the entrepreneurial space producing activity?

a.       Investing activity

b.      Governing activity

c.       Lending activity

d.      All of the above

1. F

2. T

3. F

4. T

5. T

6. B

7. A

8. D