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

Question

Responses

labor
labor

profit
profit

attention
attention

consumer preferences
consumer preferences

Answer 1

When determining the best allocation of resources and making trade-off decisions, businesses must consider labor and attention as limited resources.

• Labor: This refers to the human workforce needed for production and services, which is inherently limited.
• Attention: This refers to the focus and mental resources of management and employees, which are also limited.

While profit and consumer preferences are important factors in decision-making, they are not limited resources in the same sense. Profit is an outcome of resource allocation, and consumer preferences can guide choices but do not represent a limited resource.

So, the best answers for limited resources to consider in this context are labor and attention.