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Real estate is a relatively illiquid economic product, meaning: it cannot always be readily sold for cash. it is influenced by economic factors. it is in high demand. it follows growth patterns. - Answer- it cannot always be readily sold for cash In real estate, supply is the amount of property available for sale or lease at any given time. Note that supply is generally not the number of properties available, except in the case of: industrial real estate. residential real estate. land. commercial real estate. - Answer- residential real estate. How do the elements of supply, demand, and price interact in a market? In a continuous manner In a balanced state In opposite forces In opposing forces - Answer- In a continuous manner Real estate is classified as: liquid assets. illiquid assets. moveable assets. secondary assets. - Answer- illiquid assets. What is the utility feature of a hammer? To drive nails To increase sales To reduce expenses To cut pipe - Answer- To drive nails What is the primary force that moves the real estate market? Government Market Forecasts Employment Deficit Spending - Answer- Employment In recent years, international economic trends have increasingly influenced local real estate markets, particularly in border states, large metropolitan areas, and in markets where the economic base is tied to foreign trade. In these instances, currency fluctuations have significant impact on: the global economy. t