Is It Ever Possible to Consider Every Possible Alternative in a Scenario

question 119

Multiple Choice

Is it ever possible to consider every possible alternative in a scenario?

• A)Yes, because every scenario involves a finite number of alternatives.
• B)Yes, because some scenarios involve a small number of alternatives.
• C)Yes, because no scenario involves more than three alternatives.
• D)No, because every scenario involves infinitely many alternatives.
• E)No, because in every scenario, it is impossible to know how many alternatives there are.

---

Definitions:

Budget Line

A visual diagram showing every pairing of two items that a person can purchase within their budget constraints, based on their earning and the cost of these products.

Consumption Bundles

These are combinations of different goods and services that an individual consumes, representing a mix of choices according to their preferences and budget.

Income

Earnings received by individuals or entities, typically in the form of wages, salaries, rents, interest, or profits, available for spending or saving.

Substitution Effect

The shift in buying habits caused by a change in the relative costs of products, prompting consumers to substitute pricier options with more affordable ones.