Which of the Following Statements Is (Are) True

question 243

Multiple Choice

Which of the following statements is (are) true?

• A) Consumers are constrained by a budget.
• B) If a consumer decides to spend more on one good, he or she must decide to spend less on another good to satisfy the budget constraint.
• C) The marginal decision rule states that an activity should be expanded if its marginal benefit exceeds its marginal cost.
• D) All of the above statements are true.

---

Definitions:

Enclosure

The historical process in England of consolidating (enclosing) small landholdings into larger farms since the 13th century, which led to significant social and economic changes, primarily displacing peasant farmers.

Common Lands

Areas of land open for communal use, typically for grazing livestock, collecting firewood, or other resources, managed by local communities.

Landowners

Individuals or entities that possess legal ownership of land or property, often exercising significant social, economic, or political power.

Trading Centers

Locations known for being hubs of commercial exchange, where goods, services, and currencies are traded extensively.