Final answer:
The uniqueness of land and its inability to be substituted is called scarcity. Scarcity refers to the limited availability of resources in relation to unlimited human wants.
Step-by-step explanation:
The uniqueness of land and its inability to be substituted is called scarcity. Scarcity refers to the limited availability of resources in relation to unlimited human wants. In the context of land, it means that there is a finite amount of land available, and it cannot be easily replaced or replicated.
For example, land for building houses is limited, and if it gets used up, it cannot be easily replaced. Similarly, agricultural land is limited, and if it becomes degraded or lost, it takes a significant amount of time and effort to restore it.
In economics, scarcity is a fundamental concept that influences the allocation of resources and the decisions made by individuals, businesses, and governments.