The demand for real estate derives from the need that market participants (e.g., owner occupants, tenants, renters) have for shelter and convenient access to other locations. This competition for physical location and space occurs in the:
A. User Market
B. Capital Market
C. Government Sector
D. Property Market
Answer: A. User Market
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Economics is the study of
A) nonhuman phenomena. B) the determinants of preferences. C) scarce resources and unlimited wants. D) the physical sciences.
If the principle of increasing marginal opportunity cost holds, the opportunity cost of producing each additional unit of a good should fall as production of that good rises.
Answer the following statement true (T) or false (F)
Refer to the graph below.
Which of the shifts explains what would happen to the production possibility curve if a cyclone destroys five major garment factories in the Philippines?
A. I B. II C. III D. IV
The most prestigious stock market in the world is the
A) New York Stock Exchange. B) Chicago Mercantile Exchange. C) London Stock Exchange. D) Tokyo Stock Exchange.