The Real Estate Industry Is Comprised of Different Firms in Several

question 9

Multiple Choice

The real estate industry is comprised of different firms in several locations. Some are independent and popular locally, while others are affiliated to national chains. The real estate industry is most likely to be a(n) :

• A) fragmented industry.
• B) oligopolies industry.
• C) pure competition industry.
• D) consolidated industry.
• E) monopoly.

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Definitions:

Real Wages

Wage increases larger than rises in the consumer price index; that is, the real earning power of wages

Expectancy Theory

A motivation theory suggesting that individuals are more likely to act in a certain way based on the expectation that the act will be followed by a given outcome and the attractiveness of that outcome.

Pay Systems

Structures within an organization that determine how employees are compensated for their work, including wages, salaries, benefits, and incentives.

Escalator Clauses

Clauses in collective agreements that provide for quarterly cost-of-living adjustments in wages, basing the adjustments on changes in the consumer price index.