A Means by Which Owners of Estates in Land Can

question 170

Multiple Choice

A means by which owners of estates in land can make agreements that bind their successors is called a:

• A) lien
• B) covenant
• C) mortgage
• D) possessory
• E) none of the other choices are correct

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Definitions:

Circular-Flow Diagram

A visual model depicting the flow of goods, services, and money between households and businesses in an economy.

Circular-Flow Diagram

A visual model that shows how money moves through an economy between households, businesses, and the government.

Factors Of Production

The inputs used in the production of goods or services in the attempt to make an economic profit, including land, labor, capital, and entrepreneurship.

Economy

The system by which goods and services are produced, distributed, and consumed within a particular geographical region.