Chapter 4

1. Location is the most unimportant fact about real estate.

True / False

2. In real estate many objects can have the same location.

True / False

3. Spatial economics is the study of economic relationship over space.

True / False

4. Transportation costs are all expenses associated with getting from one location to another.

True / False

5. The option or options foregone when you pursue a certain option is not called Opportunity cost.

True / False

6. What is not one of the competitive advantage concepts?

a) Natural resources

b) Climate

c) Transportation

d) none of the above

7. The concentric circle growth model is from

a) Homer Hoyt

b) Homer S.

c) Ernest Burgess

d) Ernest Hemingway

8. An urban growth model in which cities grow in an outward direction from the CBD in pie-shaped wedges.

a) Sector growth model

b) Axial growth model

c) Multiple nuclei concept

d) Concentric circle growth model

Answer:

False, False, True, True, False, d), c), a)