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Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand . The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business ...
In law and economics, the Coase theorem (/ ˈ k oʊ s /) describes the economic efficiency of an economic allocation or outcome in the presence of externalities.The theorem is significant because, if true, the conclusion is that it is possible for private individuals to make choices that can solve the problem of market externalities.
A historic example concerns the US car industry, but the example is sharply disputed by Coase (2000). [5] Fisher Body had an exclusive contract with General Motors (GM) to supply car body parts and so Fisher Body was the only company to deliver the components according to GM's specifications.
In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the asset for the duration of the lease, while the lessee not only has operating control over the asset but also some share of the economic risks and returns from the change in the valuation of the underlying asset.
As of 2023, flood insurance in Florida from the NFIP cost on average $853 per year, according to ValuePenguin. This figure may seem more reasonable than the ones mentioned above, however, for low ...
In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. [1] In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location and for assets formed by creating official privilege over natural opportunities (e.g., patents).
Monitoring costs: Costs borne by the principal to mitigate the problems associated with using an agent. They may include gathering more information on what the agent is doing (e.g., the costs of producing financial statements or carrying out audits ) or employing mechanisms to align the interests of the agent with those of the principal (e.g ...