Chapter 4

Chapter 4

1. The cost of gettiting from one place to another is:

A. Oppertunity Cost

B. Transportation Cost

C. Material Cost

D. Future Cost

2. Situs is defined as:

A. The important location characteristics of a site

B. The study of economic relationships over space

C. The central location for businesses in a town

D. The study of urban areas

3. What is the business and industrial composition of s regions local economy:

A. Urban Economics

B. Central Business District

C. Real Estate

D. Economic Base

4. The Central Business District is perminant and never changes its location.

T/F An example in the book shows us that the CBD can change its location in a city many times, such as Atlanta has.

5. In an opportunity cost you don't give something up when you persue a certain option.

T/F Opportunity cost is the options foregone when you persue a certian option.

6. The Central Business Districe can grow in many different forms and doesn't have to be circular.

T/F

7. Land use that produces the highest return or price to its owner is the highest and best use of the land.

T/F

8. Urban Economics is the study of economic relationships over space.

T/F Urban economics studies urban areas where as spatial economics studies economic relationships over space.