The Budget Constraint

question 68

Multiple Choice

The budget constraint

• A)is the lower limit on a consumer's spending.
• B)is the maximum utility an individual can achieve.
• C)has to do with a consumer's willingness to spend.
• D)expresses a consumer's preferences.
• E)is the maximum a consumer can spend on goods and services.

---

Definitions:

Fossil Fuels

Natural fuels formed from the remains of living organisms over millions of years, including coal, oil, and natural gas.

Sedimentary Rocks

Rocks formed by the accumulation and consolidation of sediment, which can include minerals and organic matter, typically found in layered deposits.

Fractured Granitic

Describes granitic rock that has been broken or cracked, often by natural processes such as tectonic movement or weathering.

Metamorphosed Rocks

Rocks that have undergone a physical or chemical change due to extreme heat and pressure, altering their original mineralogy and texture.