California Real Estate Practice Exam

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Study for the California Real Estate Exam with confidence. Engage with interactive questions designed to enhance your understanding of real estate principles, laws, and practices. Prepare thoroughly for your licensing test and ensure you have the knowledge to succeed in your real estate career!

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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.