Productive resources that are finite; for example: money, time, workers, land, materials, natural resources (both renewable and non-renewable).

• A. Latitude
• B. Limited resources
• C. Market conditions
• D. Law code

Answer: (B)

In economics, productive resources that are finite illustrate scarcity: there aren’t enough inputs like money, time, labor, land, and materials to meet all wants. Because these resources are limited, decisions must be made about how best to use them, leading to trade-offs and the idea of opportunity cost. The best term for this description is Limited resources, since it directly conveys that these productive inputs are finite and must be managed.

Latitude is a geographic coordinate, which isn’t about resource amounts. Market conditions describe the current state of supply, demand, and prices, not the fundamental idea that inputs are limited. Law code refers to rules and statutes governing behavior, not the availability of productive resources.