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:

Entrepreneur

An individual who identifies a business opportunity and organizes, operates, and assumes the risk for a business venture, with the aim of making a profit.

Little Money

A term indicating a small amount of financial resources or capital.

Entrepreneurs

Individuals who start and manage businesses, taking on financial risks in the hope of profit, often introducing new or improved products or services.

Ability to Succeed

The possession of necessary skills, resources, or qualities that enable an individual or organization to achieve set goals or objectives.