Free marketIn economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations.
Market (economics)In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
Market economyA market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.
Real-estate bubbleA real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom. A land boom is a rapid increase in the market price of real property such as housing until they reach unsustainable levels and then declines. This period, during the run-up to the crash, is also known as froth.
Real estateReal estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (eg. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. In terms of law, real is in relation to land property and is different from personal property while estate means the "interest" a person has in that land property.
Market socialismMarket socialism is a type of economic system involving social ownership of the means of production within the framework of a market economy. Various models for such a system exist, usually involving some mix of public, cooperative, and privately owned enterprises. The central idea is that, as in capitalism, businesses compete for profits, however they will be "owned, or at least governed," by those who work in them. Market socialism differs from non-market socialism in that the market mechanism is utilized for the allocation of capital goods and the means of production.
ConstructionConstruction is a general term meaning the art and science to form objects, systems, or organizations, and comes from Latin constructio (from com- "together" and struere "to pile up") and Old French construction. To construct is the verb: the act of building, and the noun is construction: how something is built, the nature of its structure. In its most widely used context, construction covers the processes involved in delivering buildings, infrastructure, industrial facilities, and associated activities through to the end of their life.
Real estate agentA real estate agent, referred to often as a real estate broker, is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency.
Real estate appraisalReal estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value). Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a centralized Walrasian auction like a stock exchange is unrealistic). The location also plays a key role in valuation.
Construction engineeringConstruction engineering, also known as construction operations, is a professional subdiscipline of civil engineering that deals with the designing, planning, construction, and operations management of infrastructure such as roadways, tunnels, bridges, airports, railroads, facilities, buildings, dams, utilities and other projects. Construction engineers learn some of the design aspects similar to civil engineers as well as project management aspects.
Home constructionHome construction or residential construction is the process of constructing a house, apartment building, or similar residential building generally referred to as a 'home' when giving consideration to the people who might now or someday reside there. Beginning with simple pre-historic shelters, home construction techniques have evolved to produce the vast multitude of living accommodations available today. Different levels of wealth and power have warranted various sizes, luxuries, and even defenses in a "home".
SoilSoil, also commonly referred to as earth, is a mixture of organic matter, minerals, gases, liquids, and organisms that together support life of plants and soil organisms. Some scientific definitions distinguish dirt from soil by restricting the former term specifically to displaced soil. Soil consists of a solid phase of minerals and organic matter (the soil matrix), as well as a porous phase that holds gases (the soil atmosphere) and water (the soil solution). Accordingly, soil is a three-state system of solids, liquids, and gases.
Soil biologySoil biology is the study of microbial and faunal activity and ecology in soil. Soil life, soil biota, soil fauna, or edaphon is a collective term that encompasses all organisms that spend a significant portion of their life cycle within a soil profile, or at the soil-litter interface. These organisms include earthworms, nematodes, protozoa, fungi, bacteria, different arthropods, as well as some reptiles (such as snakes), and species of burrowing mammals like gophers, moles and prairie dogs.
Soil fertilitySoil fertility refers to the ability of soil to sustain agricultural plant growth, i.e. to provide plant habitat and result in sustained and consistent yields of high quality. It also refers to the soil's ability to supply plant/crop nutrients in the right quantities and qualities over a sustained period of time. A fertile soil has the following properties: The ability to supply essential plant nutrients and water in adequate amounts and proportions for plant growth and reproduction; and The absence of toxic substances which may inhibit plant growth e.
Real estate developmentReal estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction or housebuilding, although many developers also manage the construction process or engage in housebuilding.
Soil scienceSoil science is the study of soil as a natural resource on the surface of the Earth including soil formation, classification and mapping; physical, chemical, biological, and fertility properties of soils; and these properties in relation to the use and management of soils. Sometimes terms which refer to branches of soil science, such as pedology (formation, chemistry, morphology, and classification of soil) and edaphology (how soils interact with living things, especially plants), are used as if synonymous with soil science.
Land (economics)In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits, forests, fish stocks, atmospheric quality, geostationary orbits, and portions of the electromagnetic spectrum. Supply of these resources is fixed. Land is considered one of the three factors of production (also sometimes called the three producer goods) along with capital, and labor. Natural resources are fundamental to the production of all goods, including capital goods.
Soil carbonSoil carbon is the solid carbon stored in global soils. This includes both soil organic matter and inorganic carbon as carbonate minerals. It is vital to the soil capacity in our ecosystem. Soil carbon is a carbon sink in regard to the global carbon cycle, playing a role in biogeochemistry, climate change mitigation, and constructing global climate models. Natural variation such as organisms and time has affected the management of carbon in the soils. The major influence has been that of human activities which has caused a massive loss of soil organic carbon.
Soil conditionerA soil conditioner is a product which is added to soil to improve the soil’s physical qualities, usually its fertility (ability to provide nutrition for plants) and sometimes its mechanics. In general usage, the term "soil conditioner" is often thought of as a subset of the category soil amendments (or soil improvement, soil condition), which more often is understood to include a wide range of fertilizers and non-organic materials. Soil conditioners can be used to improve poor soils, or to rebuild soils which have been damaged by improper soil management.
