Budget Constraints Exist for Consumers Because

question 526

Multiple Choice

Budget constraints exist for consumers because

• A)their utility from consuming goods eventually reaches a maximum level.
• B)even with unlimited incomes they have to pay for each good they consume.
• C)they have to pay for goods, and they have limited incomes.
• D)prices and incomes are inversely related.

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Definitions:

Contributing Factor

An element or circumstance that plays a significant role in leading to a particular outcome or event.

Older Persons

Individuals who are in the later stages of their life, typically those considered senior citizens or the elderly.

Suffer Abuse

To experience harm or mistreatment, often repeatedly, from someone in a position of power or trust.

Live Alone

The state or practice of residing in a dwelling by oneself, without the presence of any cohabitants.