Which of the following describes a budget line? A curve showing various combinations of two products an economy can produce with a specific amount of resources. A curve showing various combinations of three or more products a consumer can purchase at different prices. A schedule showing various combinations of three or more products a consumer can purchase at different prices. A curve showing various combinations of two products a consumer can purchase with a specific amount of income.

A curve showing various combinations of two products a consumer can purchase with a specific amount of income.

Explanation:

Budget Line is a term or form of indication of consumer's budget constraints, which is used to describe several combinations of two commodities a consumer can buy considering both the prices of these commodities and a certain amount of income available to the consumer over a given period.

Hence, in this case, Budget Line can be best described as "a curve showing various combinations of two products a consumer can purchase with a specific amount of income."

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