“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumerical Transport Costs Miscellaneous

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumerical Transport Costs Miscellaneous

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 100 N B D

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 200 The physical spatial characteristics of a city

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 300 Dispersion of households and jobs as people and jobs move further away

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 400 Suburbs which perform virtually all the major functions of a city including major retail, office and industrial activities

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner DAILY DOUBLE

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Daily Double Definitions for 500 The difference between the value of production minus the mobile factor cost for the best use of the land site

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 100 The ________ factors of production need to get paid first,else they will “run away”

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 200 Constraining Land Boundaries has this effect on land values

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Land gets all of the residual after the mobile factors have been paid their _______ values Analytical for 300

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner The four basic factors of production are Raw Materials, Land, Labor and _______ Analytical for 400

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 500 If transport costs are higher for the entire market, the _________ will be steeper over space away from the centers of economic activity

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Land uses that are more sensitive to transport costs will have bid-rent curves with _______ slopes Transport Costs for 100

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Transport Costs for 200 The maximum rent that a potential user would be willing to pay for a site or location, across space

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner The amount of bid-rent at the central point depends on the value of the land use, when __________ are minimized Transport Costs for 300

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Transport Costs for 400 The vertical axis on a bid-rent graph is generally located at the ________

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner More productive land uses will have _______ bid-rents at the central point Transport Costs for 500

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 100 A house rents for $9,700 per annum at the periphery of a monocentric city with rent gradient of $260 per year and a 4.5 mile radius. The price of a similar house at the center of the city would be _________

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 200 A semiconductor chip manufacturing facility earns gross sales revenues of $32.7 million per year. If the “mobile” factors total $29.8 million, then the residual is _______

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 300 Rent Gradient = Transportation cost per mile per person X ______

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 400 A house rents for $10,000 per annum at the periphery of a monocentric city with rent gradient of $300 per year. Keeping density and other factors constant the city periphery extends by 4 miles. The new rent of the house will be ________

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 500 The area of a monocentric city with a 10-mile radius doubles in 10 years. The new radius will be _____

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 100 He developed the Sector Theory of land use

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 200 Value per hour or per mile of travel is a positive function of ____________

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 300 _______ developed the concentric ring model

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 400 The highest and best use of land inherently assumes that aggregate transport costs are _______ for the market as a whole

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 500 In a monocentric city, the housing rent must ____ as we approach the center