| A | B |
|---|
| business cycle | four stages: expansion,recession,depression and revival |
| chattel/personalty | personal property |
| supply | the amount of goods available on the market to be sold at a given price |
| demand | the amount of goods people are willing to buy at a certain price |
| heterogeneity | uniqueness of property |
| highest and best use | the one use for a property that would make the most profit |
| land | Earth's surface, down to the center of the earth, and upward into space, including nature |
| market | a place where goods are bought and sold |
| personal property | items that do not fit the definition of real property; movable objects such as furniture |
| provisional broker | a broker who has a R.E. license but must work under a BIC and take further postlicensing classes |
| real estate | Land |
| real property | land plus permanent improvements and the interests, benefits and rights inherent |
| situs | the personal preference of people for one location over another. |
