MCKISSOCK CHAPTER 11 EXAM REVIEW QUESTIONS AND ANSWERS ALL CORRECT
How can expansion effect a neighborhood? - Answer-Leads to job creation and increased tax revenue to where consumers are willing to spend more money and take on more debt.
How can contraction effect a neighborhood? - Answer-job...
MCKISSOCK CHAPTER 11 EXAM
REVIEW QUESTIONS AND ANSWERS
ALL CORRECT
How can expansion effect a neighborhood? - Answer-Leads to job creation and
increased tax revenue to where consumers are willing to spend more money and take
on more debt.
How can contraction effect a neighborhood? - Answer-job losses which may cause
consumers to stop spending money.
For Example: a recession
Recession - Answer-A slowdown in a nation's economy
Gross domestic product (GDP) - Answer-A measure of the value of all goods and
services produced in the United States.
Gentrication - Answer-is a form of REVITALIZATION with displacement of current
residents that takes place in a more natural fashion and is not driven by any public
movement.
What is the difference between Base companies & Service companies? - Answer-Base
companies are the industries that bring new business and jobs to the area. For
Example: how the Bush Stadium provides jobs.
Service companies provides services to the Base companies.
For Example: How Ameren UE provides electrical power to the entire stadium as a
service.
What are the common sides of a Buyer's Market? - Answer--home prices and value
declines
-buyers become sensitive & fear paying too much for a property
- Homes are on the markey longer due to higher supply and low demands
-incentives could be given to the buyer like loans or no closing cost
NOTE: It is also a type of market to negotiate for a lower price!
What are the common sides of a Seller's Market? - Answer--a limited supply or no
homes for sale in the area
-homes sell quickly
-selling prices rapidly increase
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