Question
A consumer must decide between purchasing a new television or a new computer. What limited resource is responsible for this trade-off decision?
a. The consumer has a limited amount of money available for purchases.
b. The profit the producers receive from each possible purchase.
c. The consumer has a different benefit from each possible product.
d. The producers have a limited number of televisions and computers.
a. The consumer has a limited amount of money available for purchases.
b. The profit the producers receive from each possible purchase.
c. The consumer has a different benefit from each possible product.
d. The producers have a limited number of televisions and computers.
Answers
Answered by
GPT-4o mini
The correct answer is:
a. The consumer has a limited amount of money available for purchases.
This option highlights the fundamental economic concept of scarcity, where the limited financial resources of the consumer require them to make trade-offs between different purchasing options.
a. The consumer has a limited amount of money available for purchases.
This option highlights the fundamental economic concept of scarcity, where the limited financial resources of the consumer require them to make trade-offs between different purchasing options.