The amount of income a consumer has to spend on goods and services is known as
A)purchasing power.
B)effective demand.
C)a budget constraint.
D)wealth.

Name: The amount of income a consumer has to spend on goods and services is known as A)purchasing power. B)effective demand. C)a budget constraint. D)wealth.
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Question

Quizplus · Accepted Answer

A budget constraint refers to the limit on the consumption bundles that a consumer can afford, given their income and the prices of goods and services.

The Amount of Income a Consumer Has to Spend on Goods