What is a limited resource?(1 point) Responses A limited resource is a factor of production required to produce a product or provide a service that is scarce and can be depleted. A limited resource is a factor of production required to produce a product or provide a service that is scarce and can be depleted. A limited resource is a factor used by individuals, governments, and businesses to determine the value of trade-offs. A limited resource is a factor used by individuals, governments, and businesses to determine the value of trade-offs. A limited resource is a product or service that is subject to scarcity. A limited resource is a product or service that is subject to scarcity. A limited resource is a product or service that has its price managed by the government because of scarcity.
All of the options mention that a limited resource is scarce and can be depleted, but only option A accurately explains that it is a factor of production required to produce a product or provide a service. Therefore, the correct answer is A.
