ESG-Midterm Review || with 100% Correct Answers.
Real estate, as defined in this class, includes... correct answers Land, infrastructure, rights that
run with the land that are above the land, improvements, and rights that are below the land.
When we consider a building, what most appropriately describes it? correct answers A location
for activities (living, working, buy/trade, manufacture, and others) and a place to generate rents
(a factory producing rents)
True or False. According to Prof K, while there may be some "dips" or short periods of decrease,
the share of population living in urbanized areas has increased constantly for 12,000 years,
despite any pandemics, changes in the nature of work, or de-urbanization. correct answers True
True of False. The first cities were created due to the invention of agriculture, and served
primarily as locations for markets and to purchase goods. correct answers False
True or False. Co-working represents one of the recent (late 20th/early 21st century) evolutions
of the nature of office work. It was primarily enabled by the invention of computers. correct
answers False
True or False. Although up until recently, we primarily thought of real estate and cities in terms
of their economic impact, that is not in fact the story of the history of civilization -- it takes 5,000
yars before there is a primary economic purpose to cities (as defined financially, with money).
correct answers True
True or False. The history and purpose of cities has primarily been dominated by the use of
office. Without offices, the purpose of cities is unclear. correct answers False
The main difference between commercial real estate (vs. owner-occupied) is: correct answers
Commercial real estate has an intermediary between the user and the real estate.
, Net Operating Income or "NOI" is defined as: correct answers Total operating revenue minus
total operating expenses in a given year
What determines the allowable improvements on a particular piece of land? correct answers
Zoning
What is the criteria for highest and best use? correct answers Legally permissible, physically
possible, financially feasible, maximally productive.
The four commercial real estate property types include... correct answers Office, industrial,
multi-family, and retail.
According to the Geltner reading, there are three centripetal (centralizing) forces that cause cities
to coalesce. These are (select three): correct answers Economies of scale-it is cheaper and more
efficient to produce more of a good or service in larger volume at fewer sites, economies of
agglomeration-cost or productivity advantages to the clustering of firms or work sites physically
near each other, Positive locational externalities-one firm benefits from the nearby location of
another firm without the first firm being able to capture all the benefits for itself.
Which of the following are true about economics? correct answers It is the study of scarcity and
choice allocation to maximize utility. Since the early writing of Adam Smith and Alfred
Marshall, economics is only concerned with financial maximization, not human well-being. It
involves the sources of supply and demand.
True or False. Markets have many definitions, but it can be said that a market is the process by
which the prices of goods and services are established. correct answers True
Quantity demanded tends to be ___ at higher prices. correct answers Lower
Market equilibrium is achieved when ___ and ___ intersect at the same point for buyers and
sellers, allowing the market to clear. correct answers price, quantity
Real estate, as defined in this class, includes... correct answers Land, infrastructure, rights that
run with the land that are above the land, improvements, and rights that are below the land.
When we consider a building, what most appropriately describes it? correct answers A location
for activities (living, working, buy/trade, manufacture, and others) and a place to generate rents
(a factory producing rents)
True or False. According to Prof K, while there may be some "dips" or short periods of decrease,
the share of population living in urbanized areas has increased constantly for 12,000 years,
despite any pandemics, changes in the nature of work, or de-urbanization. correct answers True
True of False. The first cities were created due to the invention of agriculture, and served
primarily as locations for markets and to purchase goods. correct answers False
True or False. Co-working represents one of the recent (late 20th/early 21st century) evolutions
of the nature of office work. It was primarily enabled by the invention of computers. correct
answers False
True or False. Although up until recently, we primarily thought of real estate and cities in terms
of their economic impact, that is not in fact the story of the history of civilization -- it takes 5,000
yars before there is a primary economic purpose to cities (as defined financially, with money).
correct answers True
True or False. The history and purpose of cities has primarily been dominated by the use of
office. Without offices, the purpose of cities is unclear. correct answers False
The main difference between commercial real estate (vs. owner-occupied) is: correct answers
Commercial real estate has an intermediary between the user and the real estate.
, Net Operating Income or "NOI" is defined as: correct answers Total operating revenue minus
total operating expenses in a given year
What determines the allowable improvements on a particular piece of land? correct answers
Zoning
What is the criteria for highest and best use? correct answers Legally permissible, physically
possible, financially feasible, maximally productive.
The four commercial real estate property types include... correct answers Office, industrial,
multi-family, and retail.
According to the Geltner reading, there are three centripetal (centralizing) forces that cause cities
to coalesce. These are (select three): correct answers Economies of scale-it is cheaper and more
efficient to produce more of a good or service in larger volume at fewer sites, economies of
agglomeration-cost or productivity advantages to the clustering of firms or work sites physically
near each other, Positive locational externalities-one firm benefits from the nearby location of
another firm without the first firm being able to capture all the benefits for itself.
Which of the following are true about economics? correct answers It is the study of scarcity and
choice allocation to maximize utility. Since the early writing of Adam Smith and Alfred
Marshall, economics is only concerned with financial maximization, not human well-being. It
involves the sources of supply and demand.
True or False. Markets have many definitions, but it can be said that a market is the process by
which the prices of goods and services are established. correct answers True
Quantity demanded tends to be ___ at higher prices. correct answers Lower
Market equilibrium is achieved when ___ and ___ intersect at the same point for buyers and
sellers, allowing the market to clear. correct answers price, quantity
