Which of the following is NOT an economic characteristic of land?

The correct answer, which is uniqueness, is not considered an economic characteristic of land. Economic characteristics of land focus on the financial and market implications that affect value and usage.

Scarcity refers to the limited supply of land, meaning that it is finite, thus impacting its value. Immobility emphasizes that land cannot be moved; it is fixed in place, which also contributes to its value consideration. Modification signifies that land can be altered through development or improvement, affecting its economic potential and marketability.

Uniqueness, while a significant physical characteristic of land—since no two parcels of land are exactly alike—it does not directly influence its economic aspects in the same way as scarcity, immobility, and modification do. Each parcel can have its distinct features, but this uniqueness does not inherently drive economic value or perceptions in the market.