The First Step in the Home-Buying Process Should Be to

question 53

Multiple Choice

The first step in the home-buying process should be to

• A)identify the specific home you want to purchase.
• B)determine a realistic price range of homes you can afford.
• C)compare the cost of buying to renting.
• D)find a good realtor.

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Definitions:

Billiards

A cue sport that encompasses a wide variety of games involving pool tables, cue sticks, and balls, where players strike balls to score points based on game-specific rules.

Limited Resources

The finite availability of inputs (like labor, capital, and land) that are used for the production of goods and services.

Economics

A branch of social science that examines the methods by which people, governmental bodies, corporations, and states allocate finite resources to meet their infinite needs.

Opportunity Cost

The cost of foregone alternatives when a decision is made, essentially what is given up to undertake a certain action.