While There Are Several Conventional Approaches Used to Estimate the Market

question 8

Multiple Choice

While there are several conventional approaches used to estimate the market value of real estate, which of the following is typically considered the most reliable approach?

• A) Income approach
• B) Sales comparison approach
• C) Cost approach
• D) Investment approach

---

Definitions:

Drug Interdiction

The policy or practice of preventing the importation, trafficking, and use of illegal drugs by enforcement or military means.

Supply Curve

A visual chart illustrating the connection between a product's price and the amount of the product that sellers are ready to manufacture and offer for sale.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, indicative of the flexibility of producers.

Midpoint Method

A technique used in economics to calculate the elasticity between two points on a demand curve by using their average.