Article Summary According to the Online Real Estate Database Company Zillow, Homes

question 112

Multiple Choice

Article Summary
According to the online real estate database company Zillow, homes located near a Whole Foods or Trader Joe's location have appreciated in value at double the rate of homes in other areas. From 1997 to 2014, the median U.S. home had appreciated 71 percent, while a median home near a Whole Foods or Trader Joe's appreciated 140 percent and 148 percent, respectively. Although some analysts believe this is due to these retailers often opening stores in high-income neighborhoods, Zillow researchers found that before a Whole Foods or Trader Joe's opened, homes near where the stores would eventually be appreciated at the same pace of comparable homes across the city, but after the stores opened the appreciation rate of homes in close proximity increased at a faster rate.
Source: Marian McPherson, "Living near these 2 stores boosts a home's value," inman.com, June 19, 2017.
-Refer to the Article Summary.Assuming the findings are correct and all else equal, higher increases in home values which result from close proximity to a Whole Foods or Trader Joe's are an example of a ________ due to the location of these stores.

• A)positive externality
• B)negative externality
• C)private cost
• D)social cost

Understand the importance and criteria for effective brainstorming.

Grasp the concept and significance of the teamwork effect.

Comprehend the process and importance of working together to achieve common goals (teamwork).

Identify the roles and skills essential for effective team and teamwork management.

---

Definitions:

Wants

Needs that are learned by a person.

Need Arousal

A situation in which a salesperson triggers a psychological, social, or economic need in the buyer.

Information Evaluation

A process that determines what will be purchased as the buyer matches this information with needs, attitudes, and beliefs in making a decision.