Respuesta :
A new runway at the local airport put an existing subdivision under the aircraft-landing pattern. This resulted in lowering the property values in the subdivision, which is known as economic or external obsolescence.
What is external Obsolescence?
A type of depreciation known as external obsolescence is brought on by influences outside of the actual property, such as the environment, society, or the economy. An illustration would be a waste landfill that is close by. By spending money on repairs, the homeowner cannot turn around this value decline.
Economic obsolescence (EO) is the decline in the value of an item or collection of assets brought on by external economic factors.
The local airport built a new runway, placing an existing subdivision under the landing pattern. Economic or external obsolescence caused the property prices in the subdivision to decrease.
Therefore, the correct answer is option 3. Economic or external obsolescence.
The complete question is:
A new runway at the local airport put an existing subdivision under the aircraft-landing pattern. This resulted in lowering the property values in the subdivision, which is known as
1. Functional obsolescence
2. Physical depreciation
3. Economic or external obsolescence
4. Physical deterioration
To learn more about external Obsolescence refer to:
https://brainly.com/question/14550651
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