Tuesday, February 5, 2013

Chapter 4

Chapter 4 Questions by Michael McMinassian

1.What is the technical term for location?
a.      Situs.
b.      Latitude.
c.       Location .
d.      Longitude.
   2.______ economics is the study of the economic relationships over space.
a.      Spatial.
b.      Location.
c.       Accessibility.
d.      Situs.
3. What is/are included in transportation costs.
a.      Vehicle Depreciation.
b.      Fuel Costs & Insurance
c.       Mainenance & Opportunity Cost.
d.      All of the above.
4.  The bid-rent curve shoes the maximum prices, rental rates or purchase prices the bidder is willing to pay for land based on location. (T) or (F).
5.   According to Von Thunen the Village Marketplace is also known as the present day Central Business District. (T) or (F)
6. According to Von Thunen the farther you are in the land the more expense the land will be from the Village Marketplace. (T) or (F)
 7. All cities offer great opportunities to all sectors of business. (T) or (F).
8. The economic base is the business and industrial composition of a region’s local economy. (T) or (F).


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