Question

Which of the following limited resources must businesses consider when determining the best allocation of its resources and making trade-off decisions?(1 point)
Responses

consumer preferences
consumer preferences

attention
attention

labor
labor

profit

Answer 1

When determining the best allocation of resources and making trade-off decisions, businesses must consider **labor**. Labor is a limited resource that directly impacts the production process and overall efficiency of a business. While consumer preferences, attention, and profit are important factors to consider, labor is specifically categorized as a limited resource in the context of resource allocation and trade-offs.