Principles of Real EstateQuestion 17 of 100
Which of the following is a physical characteristic of land?
a.Scarcity
b.Immobility
c.Situs
d.Permanence of investment
Explanation
The physical characteristics of land are immobility, indestructibility, and uniqueness (nonhomogeneity). Scarcity, situs, permanence of investment, and improvements are economic characteristics. These traits explain why land markets are local and why no two parcels are identical.
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