Property Valuation
In South Dakota, which characteristic of value is described as the ability of a property to satisfy human needs and desires?
AScarcity
BUtility✓ Correct
CDemand
DTransferability
Explanation
Utility refers to a property's ability to satisfy human needs and desires. Along with scarcity (limited supply), demand (desire combined with purchasing power), and transferability (ability to transfer ownership), utility is one of the four elements required for a property to have value.
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