Property OwnershipHARD
An economic characteristic of real estate is:
Correct Answer
D) Scarcity
Scarcity is an economic characteristic of land. Physical characteristics are immobility, indestructibility, and uniqueness. Economic characteristics are scarcity, improvements, location, and investment permanence.
Answer Options
A
IndestructibilityB
ImmobilityC
UniquenessD
ScarcityAudio Lesson3 min
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Related Topics & Key Terms
Related Topics:
property-valuation-methodsreal-estate-market-analysissupply-and-demand-dynamics
Key Terms:
economic characteristicsphysical characteristicsscarcitySIPAreal estate characteristics
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