Correct Option (A):
Consumer equilibrium is a state where a consumer maximizes their total satisfaction or utility from the consumption of goods and services, given their limited income and prevailing market prices. At this point, the consumer has no incentive to alter their consumption pattern because any reallocation would lead to a decrease in overall satisfaction. Option (1) accurately reflects this by stating that the consumer is able to fulfil their needs (achieve maximum utility) within the constraints of their given income.
Incorrect Options:
Option (2): The concept of "full comforts" is subjective and lacks the precise economic definition required for consumer equilibrium. Economic equilibrium focuses on the objective maximization of utility under budget constraints, which may not always equate to an individual's subjective perception of "full comforts."
Option (3): This option suggests a specific consumption choice or a restriction, rather than the general condition of maximizing overall utility. While a consumer in equilibrium makes choices about which items to consume or not consume, the statement itself does not define the state of equilibrium where total satisfaction is optimized.
Option (4): Locating new sources of income relates to income generation or supply-side economic considerations. Consumer equilibrium, conversely, deals with the optimal allocation of an existing, given level of income for consumption purposes to achieve maximum satisfaction.