Which of the following elements of art involves how much space is occupied by an object?

The aspect of art that pertains to how much space is occupied by an object is related to form. Form refers to the three-dimensional qualities of an object, encompassing volume and mass. It describes how an object occupies space and can include aspects such as height, width, and depth. In art, understanding form is crucial as it allows artists to convey realism and spatial relationships in their work, creating depth and perception in a two-dimensional medium.

In contrast, the other elements like line, shape, and value have different focuses: line refers to the continuous mark made on a surface, shape pertains to the two-dimensional area defined by edges, and value deals with the lightness or darkness of color. These elements are important in their own right, but they do not directly address the concept of space occupancy in the same way that form does. Hence, in the context of the question, form is the correct choice as it specifically relates to how much space is occupied by an object.