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What is the meaning of budget …

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What is the meaning of budget line.explain

Posted by Padalam Kulesika 4 years, 3 months ago

CBSE > Class 11 > Economics

1 answers

Yogita Ingle 4 years, 3 months ago

A budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income. Consumer theory uses the concepts of a budget constraint and a preference map to analyze consumer choices

An Economics tutor answered. Slope of a budget line is the "price ratio" of the two goods. ... Since the slope is constant we will get a straight line. The only case where a budget line may be non linear is the case of kinked constraints.

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CBSE > Class 11 > Economics