The Most Common Service Provided by a Real Estate Agent

question 8

Multiple Choice

The most common service provided by a real estate agent when selling your home is

• A)providing legal advice.
• B)qualifying buyers for a mortgage.
• C)screening potential buyers.
• D)making needed repairs.
• E)getting you the lowest offer

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Definitions:

Externalities

Externalities are the positive or negative effects of economic activities on third parties that are not reflected in the cost of the goods or services involved.

Golden Rule

A principle denoting the optimal level of saving in an economy that results in the highest possible steady-state level of consumption.

Social Optimum

A condition in which resources are allocated in the most efficient manner, often considered in terms of welfare or utility maximization.

Market Equilibrium

The state in a market where the quantity demanded of a good matches the quantity supplied, leading to a stable price for the good.