AGEC 422 – TAMU (A+ Graded)

Two most Important Resources correct answers Land and People Malthus 200 year old Proposal correct answers Food supply can't keep up with population growth Percentage of Land Area correct answers 29.2% Percentage of Cropland Area correct answers 11.6% Region with highest cropland % correct answers Europe Percentage of rural land in texas is grazing land correct answers 70% % change in Texas farms correct answers +10% Year Texas rural land price peaked correct answers 2008 U.S. Regions with highest farmland value correct answers West Coast and East coast What is happening to farmland price (past 60 years) correct answers Increasing exponentially Monthly House Price trend correct answers rise up to 2008, crash, but back on the rise Interest rate for real estate trend correct answers continue to drop - this is good Foreclosure hotspots correct answers California and Florida US home prices compared to Europe correct answers Lower as of 2006 What is Land correct answers solid portion of earths surface which ownership rights might be exercised What land ownership gives you correct answers the plants, water and minerals, air and weather above it What is land in Economics correct answers means for production and for consumption Three similar terms describing land correct answers Land, Land Resources, and real estate Land economics correct answers Economic relationship people have regarding land. the study of land and people. the principles and factors that affect how people use land Land economic factors correct answers Physical, biological, technologic, economic, and institutional