A Budget Constraint Is

question 102

Multiple Choice

A budget constraint is:

• A) a consumer's restriction on spending.
• B) a consumer's total utility.
• C) a consumer's marginal utility.
• D) the income effect.

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Definitions:

Sensorimotor Stage

The first of the four stages of cognitive development in Piaget's theory, where infants learn about the world through their sensory experiences and manipulating objects.

Jean Piaget

A Swiss psychologist known for his pioneering work in developmental psychology and his theory of cognitive development in children.

Telegraphic Speech

A stage in language acquisition during which a child uses short, simple constructions, often lacking articles and auxiliary verbs.

Word Combinations

The process of forming phrases or sentences by putting words together according to the rules of grammar and syntax.