Choose the One Most Appropriate Answer for Each

question 45

Multiple Choice

Choose the one most appropriate answer for each.
-method used to change a zoning ordinance

• A)amendment
• B)buffer zone
• C)building codes
• D)CERCLA
• E)certificate of occupancy
• F)conditional use permit
• G)downzoning
• H)EIS or EIR
• I)land-use-control
• J)mapping requirement
• K)master plan
• L)nonconforming use
• M)Phase I
• N)Restrictive covenants
• O)Spot zoning
• P)taking
• Q)TDRs
• R)variance
• S)windfall gains
• T)zoning laws

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Definitions:

Inelastic Demand

A situation where the demand for a product does not significantly change with a change in price.

Total Revenues

The overall amount of money generated from sales of goods or services before deducting any expenses.

Demand Elasticity

The degree to which the demand for a product changes in response to a change in its price.

Isoelastic Curve

An isoelastic curve represents a locus where the elasticity of a variable, such as demand or utility, is constant.