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Mazyrski [523]
3 years ago
9

Jacob is a developer who purchased 78 acres and had it subdivided into half-acre lots. He decided to install sewer and undergrou

nd electric for the entire subdivision, because he thinks that he will easily recoup his initial infrastructure investment. This is an example of which economic characteristic of real property
Business
1 answer:
zlopas [31]3 years ago
6 0

The example of economic characteristic of real property is : Permanence

<h3>What is permanence?</h3>

Permanence refers to the retention of properties such as strength over extended periods. It is due to the physical characteristics of the asset which is indestructibility and immobility.

With regards to the above, real estate transactions are complex and large amounts of money are involved hence they are not made often.

Other economic characteristic of real property are :

  • Scarcity
  • Improvements
  • Area preference

Hence, an example of economic characteristic of real property with respect to the above is permanence.

Learn more about permanence(real estate) here : brainly.com/question/5053499

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