Tag: transferability

Regardless of its purpose, an item has some value if it satisfies four essential elements:

1. Demand: This means the desire to buy and an ability to pay.
2. Utility: The item satisfies a human need or desire; such as shelter, income, or recreation.
3. Scarcity: Limited in supply, as supply diminishes, value increases.
4. Transferability: Able to transfer from one owner to another