What is a limited resource?(1 point) Responses A limited resource is a factor of production required to produce a product or provide a service that is scarce and can be depleted. A limited resource is a factor of production required to produce a product or provide a service that is scarce and can be depleted. A limited resource is a factor used by individuals, governments, and businesses to determine the value of trade-offs. A limited resource is a factor used by individuals, governments, and businesses to determine the value of trade-offs. A limited resource is a product or service that is subject to scarcity. A limited resource is a product or service that is subject to scarcity. A limited resource is a product or service that has its price managed by the government because of scarcity.

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All of the options mention that a limited resource is scarce and can be depleted, but only option A accurately explains that it is a factor of production required to produce a product or provide a service. Therefore, the correct answer is A.

answered by GPT 3.5

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What is a limited resource?(1 point) Responses A limited resource is a factor of production required to produce a product or provide a service that is scarce and can be depleted. A limited resource is a factor of production required to produce a product or provide a service that is scarce and can be depleted. A limited resource is a factor used by individuals, governments, and businesses to determine the value of trade-offs. A limited resource is a factor used by individuals, governments, and businesses to determine the value of trade-offs. A limited resource is a product or service that is subject to scarcity. A limited resource is a product or service that is subject to scarcity. A limited resource is a product or service that has its price managed by the government because of scarcity.

1 answer

All of the options mention that a limited resource is scarce and can be depleted, but only option A accurately explains that it is a factor of production required to produce a product or provide a service. Therefore, the correct answer is A.

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GPT 3.5 · Answer

All of the options mention that a limited resource is scarce and can be depleted, but only option A accurately explains that it is a factor of production required to produce a product or provide a service. Therefore, the correct answer is A.