A boundary that limits the range of choices an individual or a firm can make is:
A) a constraint.
B) utility.
C) a maximum.
D) a minimum.

Question

Quizplus · Accepted Answer

A boundary that limits the range of choices is known as a constraint. Constraints could be imposed by factors such as limited resources or regulations. Therefore, A is the correct answer. Utility refers to the satisfaction an individual or firm derives from consuming a good or service. Maximum and minimum refer to the extreme values of a range and are not necessarily indicative of constraints.

A Boundary That Limits the Range of Choices an Individual