Which of the Following Terms Is Used to Refer to Opportunities

question 70

Multiple Choice

Which of the following terms is used to refer to opportunities that are practical and physically possible?

• A) durable
• B) valuable
• C) sustainable
• D) achievable

---

Definitions:

Budget Constraint

The restriction on the assortment of goods and services a consumer is able to purchase, determined by their income and the costs of those items.

Interest Rate on Savings

The percentage yield paid by financial institutions to deposit account holders on the balances in their savings accounts.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one product for another.

Income Effect

Economic principle that describes how a change in an individual's income affects their purchasing behavior.