Economics Questions
Explore questions in the Economics category that you can ask Spark.E!
An exciting new development is being created, but the developer is only putting three lots up for sale (and keeping the rest). Many buyers in town want to be the one to own one of these three lots. Which two characteristics of value does this demonstrate?utility and transferabilityscarcity and transferabilitydemand and utilitydemand and scarcity
Which of the following would motivate builders to build new houses right away?low prices of real estatehigh cost of constructionexpectation of recessionlow prices of raw land
What is the difference between assemblage and plottage?Assemblage is combining lots. Plottage is the resulting increase in value.Assemblage is combining residential lots. Plottage is combining commercial lots.Assemblage is done by a real estate agent. Plottage is done by a developer or subdivider.Assemblage requires the approval of the zoning board. Plottage does not.
When Disney World® was built, the farmlands that surrounded the theme park suddenly appreciated in value. This BEST describes an example of the economic power of:illiquiditymodificationscarcityfixity
How many buyers and sellers are in a broad market?many buyers and few sellersmany buyers and sellersmany sellers and few buyersfew buyers or sellers
Two super fancy homes have been built on Frank's block recently. Because they sold for so much money, the value of his home has increased as well. Which economic principle does this illustrate?the principle of regressionthe principle of conformitythe principle of competitionthe principle of progression
The principle of contribution states:The present value of a property is affected by the anticipated income or utility that property will give its property owner.The value of something is affected by the cost of getting a similar item elsewhere.A property's overall value is made up of the combined value of each of its parts.The value of something is determined by adding the assessed and previous market values to find the average of the new value.
Does disciplinary actions are made to punish the employee ?
Wages for garbage collectors tend to be higher than wages for retail cashiers. Which of the following is a compensating differential explanation for the difference in wages?
Park Rangers are paid noticeably less than workers with similar skills and education. This is probably because
Which of the following does not explain differences in wages among workers?
A local community is experiencing an increased rate of bank robberies. Assuming everything else is constant, which of the following is true with respect to wages for bank security officers?
If there is a significant undersupply of homes in a market, construction will tend to increase. This is an example of
A local government could stimulate the real estate market by
During a time of declining vacancy in a real estate market, one would expect
All of the following factors can affect the supply of real estate EXCEPT
If demand is increasing, what would be the likely effect on real estate prices in an area where the municipality has declared a moratorium on new construction?
The Principle of Supply and Demand states that if demand increased for a particular product and supply remains constant then prices should increase.
When the supply of a certain commodity decreases while demand remains the same, the price of that commodity will tend to
It costs $78/ton to recycle paper. Recycled paper can be purchased for use by manufacutrers for $10 per ton. By recycling, society avoids the average cost for landfill waste of $24/ton. In this scenario, recycling is the socially feasible decision.