California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

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Which of the following is not a characteristic of value?

Scarcity
Demand
Transferability
Utility

The correct answer is: Transferability

Transferability is defined as the ability for a good or service to be easily bought, sold, or exchanged. This is indeed a characteristic of value. Scarcity, demand, and utility are all considered characteristics of value as well. Scarcity refers to the limited supply of a good or service, which can drive up its value. Demand measures the desire and willingness of people to pay for a good or service, which can also contribute to its value. Utility refers to the satisfaction or usefulness that a good or service provides to a consumer, which can also impact its value. Therefore, C is the correct answer because it is the only option that does not accurately describe a characteristic of value.