The Final Step in a Real Estate Transaction Is Usually

question 7

Multiple Choice

The final step in a real estate transaction is usually called a(n)

• A) foreclosure.
• B) escrow agreement.
• C) settlement.
• D) closing.

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Definitions:

Utility Schedule

A table or graph that shows the total utility or satisfaction that a consumer derives from consuming various quantities of a good or service.

Marginal Utility

The incremental utility or joy received when one more unit of a good or service is consumed.

Total Utility

The absolute gratification obtained through the intake of a certain quantity of products or services.

Marginal Utility

The additional satisfaction or benefit (utility) a consumer derives from consuming one additional unit of a good or service.