A consumer must decide between purchasing a new television or a new computer. What limited resource is responsible for this trade-off decision?
a) The profit the producers receive from each possible purchase.
b) The producers have a limited number of televisions and computers.
c) The consumer has a limited amount of money available for purchases.
d) The consumer has a different benefit from each possible product.
c) The consumer has a limited amount of money available for purchases.
The correct answer is c) The consumer has a limited amount of money available for purchases.
Explanation: In this scenario, the limited resource responsible for the trade-off decision is the consumer's limited amount of money. The consumer must prioritize and choose between purchasing a new television or a new computer based on their budget. Since they cannot afford to buy both, they have to make a decision based on what they value more or need more at the moment. This limited financial resource affects the choices they can make and forces them to trade-off between different products they desire.