4 factors of value
(Ans-
- Utility
- Scarcity
- Desire
- Effective Purchasing Power
4 Factors of Production
(Ans-
- Capital
- Entrepreneurial Coordination
- Land
- Labor
Forces that influence real property markets
(Ans-
- Social Forces
- Economic circumstances
- Governmental controls and regulations
- Environmental Conditions
Life Cycle of a Market Area
(Ans-
- Growth
- Stability
- Decline
- Revitalization
Bundle of Rights
(Ans-
- Right to sell
- Right to lease
- Right to occupy
- Right to mortgage
- Right to give it away
4 Powers of Government
(Ans-
- Police Power
- Eminent domain
- Taxation
- Escheat
4 Forms of Ownership
(Ans-
- Community Property
- Joint Tenancy
- Tenancy by the entirety
- Tenancy in common
community property
(Ans- System of ownership; each spouse has an equal interest in property acquired during marriage: separate property is that acquired before marriage
USPAP
(Ans- current standards of the appraisal profession
Utility
(Ans- the ability of a product to satisfy a human want, need or desire.
scarcity
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