Land Economics EXAM 1
3 COMPONENTS OF BARLOWE'S THREE-PART FRAMEWORK FOR LAND USE
DECISION MAKING - Answers -1.Physical and Biological capabilities
EX. Climate, topography, soils
Non-ag uses- Extractable resources, Urban, Recreation
Renewable and non-renewable resources
2. Technological and Economics feasibility
EX.
3. Institutional acceptability
"The Two most basic resources" -Barlowe - Answers -Land and People
Land economics deals with the.... - Answers -economic relationships people have with
others respecting land.
Land economics is concerned with the principles and factors that affect... - Answers -
how people use land and real estate resources.
Father of the Green Revolution - Answers -Dr. Norman E. Borlaug
Pillars of the "Green Revolution" - Answers -1. Instituting government policies such as
fair pricing and transparent markets, availability of inputs, availability of credit, and the
adoption of science-based yield-enhancing technologies.
2. Adapting high yielding seed that is insect and disease resistant
3. Use of fertilizer to promote production and pest control to protect the plants.
Diminishing Returns- - Answers -
Physical Supply - Answers -**The existence of land.
INELASTIC--A fixed quantity.
Economic Supply - Answers -**That portion of the total physical supply that people want
and use.
-Seldom fixed-- responsive to price and demand factors
-Limited by the total physical supply for that use
Supply of Land - Answers -The amount of a specific type of real estate available for sale
or lease at various prices in a specific market at a specific time, all other factors being
equal.
-Specific use
-Opportunity cost
-Often slow to adjust to price changes but NOT FIXED.
3 COMPONENTS OF BARLOWE'S THREE-PART FRAMEWORK FOR LAND USE
DECISION MAKING - Answers -1.Physical and Biological capabilities
EX. Climate, topography, soils
Non-ag uses- Extractable resources, Urban, Recreation
Renewable and non-renewable resources
2. Technological and Economics feasibility
EX.
3. Institutional acceptability
"The Two most basic resources" -Barlowe - Answers -Land and People
Land economics deals with the.... - Answers -economic relationships people have with
others respecting land.
Land economics is concerned with the principles and factors that affect... - Answers -
how people use land and real estate resources.
Father of the Green Revolution - Answers -Dr. Norman E. Borlaug
Pillars of the "Green Revolution" - Answers -1. Instituting government policies such as
fair pricing and transparent markets, availability of inputs, availability of credit, and the
adoption of science-based yield-enhancing technologies.
2. Adapting high yielding seed that is insect and disease resistant
3. Use of fertilizer to promote production and pest control to protect the plants.
Diminishing Returns- - Answers -
Physical Supply - Answers -**The existence of land.
INELASTIC--A fixed quantity.
Economic Supply - Answers -**That portion of the total physical supply that people want
and use.
-Seldom fixed-- responsive to price and demand factors
-Limited by the total physical supply for that use
Supply of Land - Answers -The amount of a specific type of real estate available for sale
or lease at various prices in a specific market at a specific time, all other factors being
equal.
-Specific use
-Opportunity cost
-Often slow to adjust to price changes but NOT FIXED.
