The Restriction That a Consumer's Total Expenditure on Goods and Services

question 207

Multiple Choice

The restriction that a consumer's total expenditure on goods and services purchased cannot exceed the income available is referred to as

• A) maximizing behavior.
• B) economizing behavior.
• C) the price constraint.
• D) the budget constraint.

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Definitions:

Genetic Adaptation

The process through which populations become better suited to their environment over many generations, through the natural selection of beneficial genetic variations.

Overstimulation

The state of being overwhelmed by excessive amounts or types of stimuli, leading to stress, anxiety, or other negative outcomes.

Grasps

The action of taking hold of something firmly with the hands.

Survival

The act of continuing to live or exist, typically in spite of an accident, ordeal, or difficult circumstances.