A Property Owner Who Holds Fee Simple Title to Land

question 1

Multiple Choice

A property owner who holds fee simple title to land will have all of the following "sticks" in his bundle of rights EXCEPT the right to

• A) occupy and use it.
• B) restrict the use of it.
• C) devise it.
• D) violate building, health and safety codes.

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Definitions:

Vertical Axis

The vertical number line of a graph along which values of the y-variable are measured; also referred to as the y-axis.

Linear Relationship

The relationship between two variables in which the slope is constant and therefore is depicted on a graph by a curve that is a straight line.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a particular price over a specified period.

Quantity Demanded

The overall volume of a good or service that buyers are eager and capable of acquiring at a certain price within a specific period.