Fundamentals Of Real Estate Exam Prep 2023

Fundamentals Of Real Estate Exam Prep 2023 Land - ANSWER-The ground & that which is beneath & above it Real estate - ANSWER-land & fixed improvements to the land Real property - ANSWER-land, fixed improvements & intangible rights of ownership Personal Property - ANSWER-Items that can be removed without damaging to the the property Surface rights - ANSWER-Rights assoctiaed with physcial ground (top layer of land) Supply - ANSWER-The quantity supplied is the amount of good or service the market can offer at a certain price. Production costs, technology, Producer expecations, Number of suppliers , government taxes & subsides. Movements along the supply line occur when a change in quatity supplied is is caused only by change in the price. Shifts in the supply line occur when theres a change in an influencing factor other than price. Demand - ANSWER-Refers to the quantity of a good or service that would be bought at a certain price over a period of time. THe key non price deterient of demand - chnage in market price - Change in consumer expectations Change it availibility of credit - Change in consumers disposible income Movements along the supply line occur when theres a change in price of the product of the product or service which leads to quantity demanded