Once a Broker Has Taken a Listing, He Can Do

question 5

Multiple Choice

Once a broker has taken a listing, he can do all of the following EXCEPT

• A) allow his sales staff to make an offer on the property without informing the seller of the identity of the purchasers.
• B) put up a sign.
• C) buy it himself.
• D) stand on the street corners soliciting buyers for the property.

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Definitions:

Scarcity

The basic economic issue arises from the reality of endless human desires facing the constraint of finite resources.

Normative

Pertaining to or expressing judgments based on values, standards, or ideals, often concerning what is right or wrong, or what ought to be.

Positive

Refers to statements or assertions that are objective and based on factual evidence, often used in the context of affirming information in sciences and economics.

Microeconomics

The part of economics concerned with (1) decision making by individual units such as a household, a firm, or an industry and (2) individual markets, specific goods and services, and product and resource prices.