Wednesday, February 6, 2013

Chapter 4 questions- Jason Davies

1. (T/F). Urban economics is defined as the land that produces the highest return or price to a landowner.

2. (T/F). Land value can be described as a function of accessibility.

3. (T/F). A land value gradient is composed of all bid rent curves in a particular market.

4. (T/F). Basic employment is a job in an industry that serves the local population's needs.

5. (T/F). Basic employment multiplier is the relationship or ratio between an area's population and its total employment.

6. Which of the following growth models emphasizes the importance of major transportation corridors in urban development?
a. Axial/Radial growth model
b. Multiple Nuclei Concept
c. Sector/Wedge growth model
d. Concentric Circle growth model

7. Which of the following terms is also referred to as export employment?
a. Nonbasic Employment
b. Basic Employment Multiplier
c. Economic Base
d. Basic Employment

8. Which of the following terms is the reason tomato farmers were willing to pay more for land closer to the market center in the Land Value Diagram?
a. Transportation Costs
b. Opportunity Costs
c. Highest and Best Use of Land
d. Land Value Gradient

1. F 2. T 3. T 4. F 5. F 6. A 7. D 8. C

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