(4) Elements Of Value

Question 1

Implies both a need and existence of monetary power to satisfy that need

Answer 1

Demand

Question 2

power to render a service or fill ones needs. The “use” of a property

Answer 2

Utility

Question 3

A relation to supply and demand. If an item is great value but yet so abundant, it will not have great value

Answer 3

Scarcity

Question 4

The ability to transfer property ownership from one person to another

Answer 4

Transferability