Exam term
Scarcity
The economic characteristic of limited supply relative to demand. Scarcity alone does not mean a high price; buyers must want the property.
Lessons that use this term
- Physical and economic characteristics of land and appurtenances California
- Elements of value and the forces that influence value California
- Market value and the principles of value Florida
- Real and personal property, uses of real property, and its characteristics New York
- Economic and physical characteristics of real property Texas
- Market value, market price, and the characteristics of value Texas