1) Who establishes official land, airspace, and water boundaries?  

  2) What do cartographers and photogrammetrists do?

  3) Do surveying and mapping technicians assist these professionals by collecting data in the field or not?

  4) Geophysical prospecting surveyors mark sites for subsurface exploration, usually to look for petroleum, don’t they?

  5) What are GIS typically used for?

 2. Find the English equivalent s of the following Russian

phrases in the text .

1) Официальные водные границы;   

2) сбор данных в полевых условиях; 

3) техника высокой точности;    

4) уровни годовых осадков;   

5) физические и социальные особенности земли.

Fill in the gaps with the words from the box.

Each word can be used only once.

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1) Surveyors, cartographers, __________, and surveying and mapping technicians are responsible for measuring and mapping the __________ surface.

2) Surveying and mapping technicians assist these professionals by collecting data in the field, making __________, and helping with computer-aided __________.

3) Surveyors also research legal records, look for evidence of previous boundaries, and analyze data to determine the __________ of __________ lines.

4) Geophysical __________ surveyors mark sites for subsurface exploration, usually to look for __________.

5) GIS typically are used to make maps which combine information useful for __________ studies, geology, __________, planning, business marketing, and other disciplines.

Circle the Odd Word Out.

1) Boundaries, cartographers, photogrammetrists;

2) assist, calculation, collect;

3) area, field, record;

4) river, site, water;

5) engineering‚ including, marketing.

5. Translate the sentences into English

using possessive pronouns.

1) Картографы несут ответственность за свою работу.

 2) Покажите им свои данные этого участка земли.

3) Каковы ваши обязанности?

4) Думаю, ваши карты устарели.

5) Вам нравится ваша работа?

Section 3

REAL ESTATE ECONOMICS

Text

Real Estate

Real estate  is land and all that is either  on  or under it, including

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water, trees, buildings, minerals, and oil. "Real estate," also called "real property," is a term that developed in medieval times. When contests were held over the title of a piece of land, the person judged as rightful owner received the real (actual) property as the settlement of the dispute.

The term "real estate" is used today to refer to land and the property on it, and to the real estate industry – including the sale and leasing of both domestic and commercial land, appurtenant property, and the financing of and investment in real properties.

In the selling and renting of both domestic and commercial real estate, brokers buy and sell and appraise fix value. Property managers and a host of others arrange rentals. Another set of persons is involved with the financing of real estate purchases or rentals and mortgage issues for purchase.

Real estate is a significant and essential component of the national economy. For the nation’s firms it represents the supply of space necessary to produce goods and services. For institutional investors‚ real estate represents an asset class that provides diversification benefits.

Another matter understands the relationship between real estate and economic growth which is important for many reasons. In many developing countries, ownership of land is more concentrated than ownership of other assets, so growth in the share of rent in national income has important implications for the overall concentration of wealth.

The relationship between real estate and economic growth also has implications for the relative returns of real estate versus other investments.

Exercises