1. 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 consumer has a different benefit from each possible product.

B. The consumer has a limited amount of money available for purchases.

2. What resources do consumers typically have in limited supply that forces them to make trade-off decisions in consumption?

A. natural resources, land, and labor

B. time, attention, and capital

C. time, money, and attention

D. money, labor, and capital

A consumer must decide between purchasing a new television or a new computer, because they have a limited amount of money available for purchases; and consumers typically have a limited supply of natural resources, land, and labor that forces them to make trade-off decisions in consumption. Therefore, the options 1-B and 2-A hold true.

What is the significance of a consumer?

A person, or an individual, who purchases anything with the aim of consuming it for his or her own benefits, is known as a consumer. In a perfectly competitive market, a consumer is always assumed to have a rational mind.

Using this rational mind, the consumers make purchases with the limited amount of resources that they have, thereby ensuring that they get maximum utility upon consumption of their purchases.

Therefore, the options 1-B and 2-A hold true regarding the significance of a consumer.

Learn more about a consumer here:

https://brainly.com/question/13420317

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